Looking for a new contractor? Well, today’s guest explains why you’ll never find that “A” contractor and why it’s you that actually needs better training. Ryan Garcilazo is the Founder of The Garcilazo Group and Rehab Depot. He has flipped nearly 600 homes, worked with over one thousand investors and walked over five thousand homes. His company has been recognized as one of the top contractors and earned a spot on the INC 5000 list. Now, he’s his giving investors the perspective of how to flip from a contractor’s point of view and sharing his key insights to find and manage contractors for your next project.
Subscribe on iTunes, Stitcher, and Google Play.
Key Market Insights
Has worked in over 12,000 square miles of northeastern Illinois
The state of Illinois does not demand a GC license, unlike other states; each local municipality has their own protocol
Chicago – contractors only need to have the right insurance (brand name) and application
Contractors know how to make money and how to pad a line item; can charge up to 33% markup on retail/consumer job
You’re never going to attract the “A” contractor because they don’t flip homes – they’re building restaurants, hotels, apartment complexes
You’re dealing with the Bs, Cs and Ds or common crews
When looking for contractors, understand the contractors mindset
Investors come from the structured world of corporate culture, contractors come from the blue collar world
Instead of meeting at a Starbucks, meet at a property they’re rehabbing and ask questions about what they’re doing
Questions to ask on a contractor’s job site: when did you start, how many weeks did you plan? Will you finish on time, find out who owns this project and then ask them about the project
You’re combining real estate, construction and investing
When creating a SOW (Scope of Work), it should be a 4-person team and the steps start way before closing: Pre-walk, finalize sow, pick materials, evaluate contractors, pre-con
How to get out of a bad deal: go back to the beginning, see what you were thinking and restart
Bull’s Eye Tips:
Winning Your Market: Know how to rehab the right way
Market Changes: Primary research and then connecting with other investors, Facebook and LinkedIn
Daily Habit: Workout and take 10 mins to sit with kids in the morning
Best Business Books:
How to be Like Walt by Pat Williams
Digital Resources
Tweet This:
“Contractors know how to make money and pad a line item”
“You don’t need a new contractor, you need better education”
“Instead of meeting at a Starbucks, meet at a property they’re rehabbing and ask questions about what they’re doing”
“Can not be a sideline coach on your rehab”
Places to Grab a Bite:
Connect with Ryan:
Cell: 847-899-5713
Website: thegarcilazogroup.com
Instagram: @legendaryflipper
Twitter: @legendaryrehabs
Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.
