Updated: Sep 15, 2021
Previously on our blogs, I already mentioned how daunting managing multiple properties could be. Dealing with the basic to complex home repairs can be exhausting, regardless if you are an investor who flips properties and manages multiple rental units or a property owner who's after property maintenance.
Property management could be one of the most demanding jobs you wouldn't want to ball up. And as an investor who flips multiple houses and a property owner who manages several rental properties all at once, I prefer to have only one point of contact as repairs and property maintenance, even flipping a house is concerned.
Why would you hire only one contractor?
Given the work demands from flipping to managing rental units, working with only one point of contact won't just save you bucks but will also streamline the process... If you are after either one of the two and you want to secure your properties, here are some of the main reasons why you should hire one contractor while managing multiple projects:
One point of contact
If you haven't tried jumping from one contractor to another, you will experience first-hand how a single contractor will considerably reduce interferences. You'll get to know how this particular contractor does the job for you. Having one general contractor will get you lesser work and involvement as they'll get you what you need from the carpenter to the painter, electrician to the plumber, and vice versa. You don't have to carry all the work on your shoulders.
It doesn't just save you time but, it saves you energy as you will no longer have to handle tons of paperwork. You are saved from laborious work, per se.
Likewise, they'll familiarize themselves with how you do your business from planning to execution.
As issues and other unlooked-for circumstances will come your way during the construction phase, it would be a great deal if you will work with a single contractor only. There may be misalignments in standards, miscommunications, confusion, issues on resources, execution, etc. Having to work with that particular contractor will help you keep track of the progress and the issues. You'll know who is accountable if something unnecessary happens. Your contractor will oversee all subcontractors coordinating what needs to be done.
Given that a general contractor knows several
subcontractors working for them and with them, it ultimately makes the work easier. You will no longer have to connect with various subcontractors yourself as they share the same umbrella with your contractor.
Meanwhile, if you opt to work with subcontractors who are not under your contractor's wings, that's okay. Certainly, you have them working for you for months or even years. The reality of it is, we opt to work with people we used to do business with because we have proven their expertise in the job already.
In this case, so long as we are getting the job done in a timely and realistic manner, there's no problem at all. It's just that working with only one point of contact saves us a lot. It saves you time, energy, money, resources, etc. And getting you one point of contact is like a one-stop-shop, serving you what you ask for in the most convenient way.
My latest video discussing this topic in detail "Why You Should Hire One Contractor for Multiple Projects" is now up on Youtube . Check out our Youtube channel, don't miss the opportunity of learning! If you haven't subscribe, subscribe now! Don't miss all the updates I will be posting. I am sharing all information I know about real estate, even the behind the scenes and actual scenarios when flipping houses. Also, do not forget to like and follow our socials for more updates! Let's help each other!