When it comes to contractors and my real estate investment business I live by the following statement: “Don’t expect what you don’t inspect.”
This is true in all areas of business but especially with contractors.
I used to think that all contractors started out good but after a while they cut corners or raise prices. Worst case, they do both.
The reality is not all contractors start out good, in fact some are just terrible.
When selecting a contractor always inquire what tools and skills they have and follow up on referrals. Typically the best contractor you will find comes from someone that referred them to you.
Once you find a good tradesman, request that he refer other qualified workers to bolster your team. Most of our contractors get referred to us and then we watch closely.
Allowing a contractor to continue after mistakes
One of the biggest mistakes we’ve made in the past is allowing a contractor to continue working for us after being dishonest or previously performing bad work. We used to believe in second and third chances, but not anymore.
If a contractor lies once – fire him immediately!
Those second and third strikes have cost me $20,000 – $30,000 and in some cases as much as $40,000.
Look, I’m not a soft touch and I have no excuses for what I thought was compassion or kindness.
No way, never again!
If someone lies to you once, it’s their way of life and you aren’t going to change them.
Learn more about RJ here and see his other blog posts.
Visit RJ’s site here.
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