Beating the Contractor at his own game
There’s always more to it...
How many times have you heard some hapless
investor complain that they’d have been OK “if
it weren’t for the contractors”? Well, Urban
Rehabber Program members know better. There’s
always more to it then meets the eye.
The Dirty Little Secret is: Success in real
estate investing and rehabbing takes a lot more
than just buying a foreclosure or other “distressed”
property, finding a contractor and, some weeks (or
months) later, reaping the rewards.
The way to really make big money in this
business is to work with local contractors directly...
Very likely without hiring a “general contractor”
to run the job. Our successful rehabbers run their
own jobs.
How can they do this? Were they contractors or
tradesmen in an earlier life? Not likely. Our
successful investor/rehabbers come from every walk
of life. Teachers, lawyers and accountants, engineers,
managers, sales, health care, and civil service to
name a few.
In fact, we’ve found folks with little or no
experience in building construction make superior
investors and rehabbers. I like to say they haven’t
been “spoiled” by a background in the industry.
Most contractors and tradesmen do not share the
entrepreneur’s (legitimate) interest in efficiency
and profits. Their goal is simple: How long can the
project be drawn out, and how much can they make on
it? Often by urging unnecessary work and misleading
the inexperienced investor.
We are successful in this profitable market because
we’ve developed innovative Systems and specific Tools
to guide and control our projects. Those who invest in
mastering these systems and acquiring the tools succeed.