Introduction to Construction

Transcripts:

So, module 7 is all about construction. The one thing that investors do not talk about the most. I always say it doesn’t matter how great of a deal you snagged because if you do not have the right team in place to do the work and close it. That deal means nothing. Nothing at all! You guys know that I started my career in the passenger seat of a construction truck and how much of a leverage that knowledge gave to me. 


When I was riding around with my uncle I got to see the ins and outs of creating and implementing a construction bid. I got to learn the terminology and trust that has been extremely useful. I also got to learn how to view a property in the eyes of a contractor. These are not things that a lot of investors know how to do. They typically rely heavily on their contractor to be honest and faithful and unfortunately I have helped so many investors dig themselves out of a hole because of choosing the wrong contractor.


Here is a story: 

I worked with client that was out of state and investing in my current city and he asked if I could come in and check out the property, give design tips, help check construction workers work, stuff like that. So, I did as I got to know him I got to learn the story of the house he has been trying to flip for the last 2 years. BANANAS I know, 2 years toooooo long. This client was in a crunch because now his lender was wanting his money back plus insane interest. This house has been through 5 contractors and all could not complete the job. They either ran after their 1 st payment, stole goods from the house, MAN it was a horror story. 


I want to say this not all contractors are like this. There are some great contractors out there that are honest and faithful. But it doesn’t hurt to know the ins and outs of the construction process.


In this module you will learn you will learn my secret sauce to hacking construction.


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