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Best Way To Find Good Contractors with Van Sturgeon & Jay Conner, The Private Money Authority

In this video, Van Sturgeon talks about some of the best ways on finding good contractors to submit your scope of work.

Van Sturgeon is an experienced entrepreneur of over 30-years who has successfully created several businesses in the real estate industry that cover land acquisition, development management, construction, and renovation.

Van personally owns over 1,000 properties across North America and is semi-retired from the day-to-day operations of his businesses.

He shares his passion for helping homeowners and real estate investors overcome their fears of house renovations/rehabbing, and he loves to be actively involved in helping people reach their goals.

For more valuable information click on this link to watch the complete episode: https://youtu.be/YiotEEXpQvU – “Secrets to a Successful Home Renovation with Van Sturgeon & Jay Conner, The Private Money Authority”

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Real Estate Investing With Jay Conner, The Private Money Authority

Jay Conner:

Once the scope of work is put together, you’re now ready to put it out for bid. I think we got the cart before the horse. It’s been my experience. It’s always best to have some relationships in place, or at least some contacts in place, instead of me now having a scope of work. And now I’m running around, where in the world am I going to submit this to? Right? So, at whatever point in the process, what is the best way to go find good contractors that you want to submit your scopes of work?

Van Sturgeon:

Well, I’m pretty sure that you would tell folks the same thing I’m going to tell you that before you get to roll in on this, you’ve already created sort of your power team within the areas that you’re concentrating in. And in finding properties, doing investments, you have relationships with real estate brokers, mortgage brokers, insurance brokers, all those types of people that you need to have on your team. And it’s amazing once you have those relationships with those people, they will provide you with references of people that they’ve done work with in the past. Also, Jay, you know, we got these beautiful things called REIA, these real estate investors associations, a lot of great people in them. If I came across you, I’m pretty sure that if I have chatted you up and had a conversation with you, you would love to be able to share the wisdom and experience that you’ve had for over so many years.

Van Sturgeon:

Just like how I would. And so these are great opportunities for new real estate investors, really to educate themselves and really create relationships with people who know something, to join these associations. There are Facebook groups, there are a lot of places where birds of the same feather flock together and go into these places and create relationships. And also same time you will learn, “Hey, I need an electrician. Do you have anybody?” “Oh, I’m running into a snag here with a plumber. And he’s telling me to do this. What do you think?” And those are the areas. That’s where I would start. I would never go to my local home improvement center and stand out there and try to write down cellphone numbers or find people that way.

Van Sturgeon:

That’s just the wrong way to go. The only way for you to be able to do that is if you’re a seasoned veteran, if you’re an expert, you know exactly what you’re doing. Like, surely, I could pick out people like that. And then, immediately, I could put them on a job site and determine whether they know what they’re doing or not know what they’re doing. But if you’re not at that stage yet, you cannot go down that road. You really should focus your efforts on finding bonafide individuals that will handle the work. And you’ll have fewer problems going in that direction.

Jay Conner:

Absolutely. Back to the scope of work for a second there, Van. When you get a bid from a contractor, do you require the general contractor to line item their bid? Or are you satisfied with a bottom line?

Van Sturgeon:

Well, if I have a detailed scope of work, I’m fine with them just giving me a line item. Ultimately, what I tell people is that I would love to have a general contractor, tradespeople, include all of their material, and the price just gives me the bottom line. I don’t want to get into running out to buy a pail of paint for people or a box of tile that they’re running short on. It’s amazing when they look after the material, when they bring it onsite, how you’re able to see how efficient they are, and you don’t see things all over a place loosey-goosey when they’re paying for it. So when starting out, that’s what I recommend. Once you become experienced and seasoned, then you can turn things around, and maybe you might supply material for your contractor, tradespeople. But in the early stages, when you’re starting off, I strongly suggest you just get the bottom line. You have a detailed scope of work, which is included as part of the quote and contract that exists with your contractor, tradesperson, and then you get a bottom-line number. And that’s all, move on.

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