Contractor Gone Bad?
We all know the realm of real estate investment, particularly long-distance ventures, presents a unique set of challenges. One that can definitely present a constant pain is contractors. We hear stories all day about contractors who left jobs, overcharged, delivered bad work, and cost investors lost money. After our own story of a contractor screwing us, we developed an effective construction management system that we now can make available to you. Let’s dive into what led us here and how we can help.
Long-distance real estate investors often face a range of challenges. The most notable of these is the inability to personally oversee projects. This makes tasks such as interacting with contractors, inspecting work, and assessing progress significantly more difficult.
Moreover, finding and managing reliable contractors from a distance presents another hurdle. Added to this, ensuring clear communication, maintaining the quality and consistency of work from afar, and understanding the intricacies of project requirements and fair costing can all be daunting tasks. It's often hard to detect substandard workmanship through photographs, making it easier for unscrupulous contractors to overcharge or underperform.
Can you relate?
Construction management offers a powerful solution to these challenges. Unlike contractors, who may be motivated to complete tasks as quickly and cheaply as possible, construction managers are incentivized to prioritize quality and efficiency over speed and cost-cutting. This difference in incentive structure can be a game-changer for investors.
Effective construction management enhances communication and collaboration through clear project guidelines and regular progress updates, including photos and videos. It also ensures quality and consistency by rigorously selecting contractors and closely supervising work.
Construction managers can provide valuable assistance in negotiating scopes of work and acquiring materials at lower costs. While with contractors you typically have to choose between speed, cost, or quality, a competent construction manager will strive to deliver on all three fronts.
Seems like a dream come true? It is.
We offer a comprehensive approach to Construction Management. We have honed our approach to expertly manage projects for remote investors. This looks like:
A transparent fee structure
Efficient communication channels, keeping our clients well-informed at all times.
Strategies used in local investments to cater to the unique needs of long-distance investors.
Negotiation on contractor pricing and quality—ensuring that we get both the best price and outcome
Eyes on the project at least weekly by a project manager who is a licensed contractor
Engaging with a professional construction management team like Off Leash Construction Management can significantly streamline the process of long-distance real estate investment. We encourage investors, regardless of their location, to reach out to us for a stress-free experience in managing their rehab projects. Our team is ready to help you tackle the challenges of long-distance investment and guide you towards a prosperous real estate journey. Contact us at construction@offleashinvestments.com. We would love to work with you!