Real Estate Nerds 60: Bad Beats

Contractors Sans Competence

Bryan Crabtree

Real Estate Investing Expert

Listen to the Podcast Here:

Todays episode of REN is packed with helpful information on contractors. Scott hosts Bryan Crabtree, real estate investor and founder of Crabtree Team, on the pod to talk about not one but two of his “Bad Beats”. Bryan gives his expert insight on hiring contractors and shares some stories about what can happen when you hire incorrectly. Scott and Bryan go into detail on the warning signs you should look for in contractors and how to manage those contractor relationships. Bryan also shares what he looks for in building his team of investors.

 

Contractors Sans Competence

Scott introduces Bryan. Bryan talks about his history in the real estate business and how he got started.

[2:18] Scott and Bryan talk about the people behind the deal and strategies to building a team.

[4:27] Scott and Bryan discuss blind spots, finding them and how they influence deals.

[6:00] Bryan gets into two of his “Bad Beats” both involving contractors.
[9:57] Bryan shares some of the signs he looks out for in contractors:
  • They start talking about the profit they are not making/ Cannot get their numbers right.
  • Do not show up to work when they said they would/ Not able to manage project.
  • Try to pull one over on you in small ways/ Lack of integrity and it will escalate.

[17:14] Scott asks Bryan about the rigidity of his contracts and his thoughts on how they should be written.

[18:26] Scott talks about the major pieces you need to have in place to manage contractor relationships:

  • Contract with good language.
  • Roadmap of the project start to finish with milestones.
  • Give them opportunities to lie.

[20:13] Bryan talks more about his nightmare experiences with contractors.

[23:22] Lesson Learned from Scott.

[25:17] Lesson Learned from Bryan.

[27:46] Scott and Bryan talk about “training” contractors.

[30:29] Scott talks about all the great content Royal Legal Solutions has to offer.

[31:25] Connect with Bryan:

  • therealestateexperts.com

Listener Resources

Thank you for joining us on today’s episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook.

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Hosted by Scott Smith, Lead Attorney and Founder of Royal Legal Solutions

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