Bonus: Hiring a Contractor For Your Rental? What You NEED to Know

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 8 July 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hiring a contractor doesn’t have to be a guessing game. Most real estate rookies choose the first (or cheapest) contractor that comes their way, but this rarely leads to a home renovation gone right. Instead, you could be looking at tens of thousands in extra costs, poor-quality workmanship, timelines that stretch out months past your projections, and a rental property that almost any tenant will walk away from. So, how do you find the BEST contractors in your area? And what are some signs that a contractor will make your life easier? We’ve got all the answers in this episode. Rachel Richards is back on the show to talk about her recent renovation done by Zosia Madden’s team over at Laurelless. While Rachel was thousands of miles away traveling, Zosia and her team turned Rachel’s newest property around, staying on budget, on time, and with as little stress as possible. After some tear-inducing past experiences with other, lower quality contractors, Rachel and Zosia go over EXACTLY what makes a contractor the right one, red flags to look out for, software to use, and lessons learned that EVERY investor should take to heart! Check the full episode here: https://biggerpockets.com/playlist Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	bonus content. This is call her rehab and today we are going to be talking
0:06.6	exclusively with a house hacking landlord and the contractor she hired.
0:13.8	So if you guys can't tell Ashley is just like waiting for the day when Owl's
0:17.7	Cooper calls her and invites her to the call her daddy podcast but for now she's
0:21.9	just stuck with me so yeah I guess I got to do. We do have beautiful skin but
0:29.7	we got money honey Rachel Rachel which is back in the podcast and we also have
0:32.7	Zosha Madden. What's up Zosha. So thanks for the summer party last night.
0:37.4	Ash and I crashed on Zosha and Tyler's basement bedroom suite last night but
0:43.5	we're here today because not only are both of you amazing real estate
0:47.1	invested but you've also done some deals together and Rachel you have a duplex
0:51.4	here in Denver episode 300 duh that's an easy one. Rachel which is an
0:55.7	episode 300. Zosha have you been on the podcast? This is your first time on the
1:00.5	pod. This is the first time. Wow Tyler's been on a couple times and we haven't
1:06.4	had you on yet. We got that backwards. We got to swap that around. So Zosha is
1:13.2	mirrored to Tyler Madden who some of you may know. Tyler also does the Rikibu
1:16.7	camp with Ashley but together they were in lower list construction which is an
1:20.6	amazing company here in Denver and they did a rehab for Rachel.
1:24.6	That's right. They were amazing. We're still friends. I think that that is
1:29.8	actually how you tell if a relationship is good of working relationship or
1:33.6	still friends afterwards. I still go grab a drink with you. Oh my gosh I'm so
1:36.8	honored because I feel like I was fully the most annoying client ever. Well we talked
1:41.3	about it a little bit on Rachel's podcast episode about why she decided to hire
	...

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