315. Interviewing Contractors for Your Projects | Office Hours
The Commercial Real Estate Investor Podcast · The Commercial Real Estate Investor Podcast
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Show Notes
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