315. Interviewing Contractors for Your Projects | Office Hours

Key Takeaways:

Contractor Selection Strategy:

Always be networking and meeting contractors before you need them

Not all contractors are skilled in every type of project (e.g., house builders aren't necessarily restaurant builders)

Look for contractors with specific experience in your project type

Contractor Engagement Approaches:

Design-Bid-Build: Fully design project first, then get contractor bids

Design-Build: Bring contractor in early to consult during design process

Each approach has pros and cons depending on project scale and budget

Networking Tips:

Attend industry events like Urban Land Institute, ICSC, local Real Estate Investor Association meetups

Build relationships before you need them

Be open to unexpected connections and opportunities

Investment Insights:

Understanding and marketing an asset is crucial to its success

The ability to tell a compelling story about an investment can impact its future sale value

Always be learning and expanding your professional network

Personal Updates:

Recently spoke at Midwest Real Estate Investors Conference

Onboarding a new admin assistant

Expanding brokerage team due to increasing workload