#384: My First Repair Contractors Were a DISASTER (Full Story)
Real Estate Investing with Coach Carson
Chad Carson
4.9 • 613 Ratings
🗓️ 14 February 2025
⏱️ 15 minutes
🧾️ Download transcript
Summary
⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom:
https://www.coachcarson.com/rpm
🎙️ Episode #384 – Think renovating a property is all about the before-and-after transformation? I share my jaw-dropping stories of contractor disasters. From spray-painted walls to costly structure blunders, he reveals the lessons learned along the way.
📄 Show Notes:
https://www.coachcarson.com/disastercontractors/
🎬 Timestamps:
0:00 - Contractor horror stories
1:06 - My painting nightmare
3:49 - My plumbing nightmare
5:26 - My foundation nightmare
7:13 - Mistakes are part of the process
8:46 - How to find good contractors
9:07 - 4 "F's" of real estate
12:25 - Join my private community
--------------------------
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Transcript
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| 0:00.0 | Welcome back to another one of my short podcast episodes. |
| 0:11.3 | I got good feedback on some of my earlier ones. |
| 0:13.4 | So I'm going to experiment with doing more of these as bonus episodes in 2025. |
| 0:17.2 | In this episode, I'm going to tell you a few negative stories about remodeling properties |
| 0:22.6 | that maybe are going to want you to never want to do a fix-a-upper property again. |
| 0:26.9 | Or maybe not. |
| 0:27.6 | Maybe you'll just pause to do this. |
| 0:29.2 | But I want to tell you a few stories where I've kind of screwed up and had bad experiences. |
| 0:33.6 | The very first one was actually my very first property that I bought with my business partner back in 2003, |
| 0:39.8 | the end of 2002, beginning of 2003. |
| 0:42.2 | I was just turned 23 years old when we bought this property. |
| 0:45.8 | I was very proud because it was our first deal that we did on our own. |
| 0:49.0 | I had wholesaled a few properties before that. |
| 0:51.0 | We came up with the money with a partner, got a bank loan, fixing it up. |
| 0:55.6 | And to date me a little bit, I went and started looking for contractors and getting a list of |
| 1:00.5 | contractors to help us fix this property up. And I looked in the yellow pages, believe it or not, |
| 1:04.9 | and I looked in the newspaper. And so I got a painter out of the newspaper who I met. |
| 1:09.6 | I thought I was connected or comfortable |
| 1:11.8 | with him. He started painting the property, but from the very beginning, I noticed he was doing |
| 1:16.4 | some things that even though I wasn't a great painter, I knew weren't right. He was, he painted the |
| 1:21.6 | walls. He just sprayed paint on the walls. He hadn't put any of the like sheetrock mud that kind |
| 1:25.7 | of fix holes in the wall and things. And he would put that afterwards. So he paint and he put the sheetrock mud. And then he was just going to sand down this big globs of sheetrock mud and then I guess touch it up, which doesn't really work when he spray the wall. So again, I wasn't expert, but I started seeing some know, seeing some things like this. And finally, I |
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