You Need To Do These Things Now To Protect Yourself From Contractors | Flipping Mastery Weekend Edition
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 8 November 2025
⏱️ 16 minutes
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Summary
On today's Wholesale Hotline Podcast (Special Saturday Edition), we help you start your weekend right offering tips, news and mindset advice.
Show notes -- in these episodes we cover:
- Tips to level up your wholesaling business.
- Motivation to keep you going on your real estate journey.
- The latest industry news to keep you updated.
Please give us a rating and let us know how we are doing!
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, it's Terry Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.6 | I have 15 clauses that I believe are a must have with your contractors. |
| 0:22.1 | The first one is the scope of work. |
| 0:25.4 | So you want to have a detailed scope of work. |
| 0:29.2 | I create this on a separate thing and I add it as an addendum to their contract. |
| 0:33.5 | And I even have that as well. |
| 0:34.6 | If you guys want that for free, I have a scope of work. |
| 0:37.3 | It's a detailed list of every possible thing you could do on a house. And what you do is you go through this scope and you basically checklist everything you want or it's digital. So you could even delete stuff or add stuff, whatever. And you want to make this right down to knobs on the cabinets, a new handrail, like everything. |
| 0:57.1 | This is where you take your time and you really build out the most detailed scope of work. |
| 1:01.5 | You leave no rock unturned. |
| 1:03.0 | It's a bunch of upfront work, but it's going to save you so much time and hassle and headache later. |
| 1:08.5 | Better you communicate upfront with your contractors, |
| 1:11.3 | the more clear you are about that, then you eliminate 90% of your headaches and problems |
| 1:18.4 | by just having really good communication and a really good contract up front. You eliminate 90% |
| 1:25.2 | of your problems. And you'll see why as I go through this. |
| 1:28.3 | Okay, so scope of work is the first clause or the first thing in your contract. Second thing is |
| 1:33.0 | payment, meaning how is payment handled? Payment needs to be tied directly to the scope of work. |
| 1:38.2 | And then needs to be very clear on how that pay is structured. The third clause is the draw schedule. |
| 1:44.4 | I have five rules that I follow when doing draws. |
| 1:48.3 | The first one is I only pay for work completed. |
... |
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