In this episode of the Commercial Real Estate Investor Podcast, we're diving deep into the art of finding and vetting contractors for your next big project. I'm breaking down my proven strategy for connecting with the right contractors—whether you're developing a restaurant, medical office, or self-storage facility.We'll talk about why not all contractors are created equal, and how to find the perfect match for your specific project type. I'll share insights from my recent trip to the Midwest Real Estate Investors Conference, where I spoke about landing your first commercial property. Plus, I'll give you the inside scoop on how I'm constantly networking—from Urban Land Institute events to casual meetups—to build my contractor rolodex. We'll cover the two key approaches to contractor selection: design-bid-build versus design-build, and why understanding the pros and cons of each could save you thousands on your next development. Whether you're a seasoned investor or just getting started in commercial real estate, this episode is packed with tactical advice to help you level up your contractor game. Let's get into it. Sponsored by www.CRECentral.com

The Commercial Real Estate Investor Podcast

Tyler Cauble

315. Interviewing Contractors for Your Projects | Office Hours

MAY 1, 202516 MIN
The Commercial Real Estate Investor Podcast

315. Interviewing Contractors for Your Projects | Office Hours

MAY 1, 202516 MIN

Description

<p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Key Takeaways:</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Contractor Selection Strategy:</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Always be networking and meeting contractors before you need them</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Not all contractors are skilled in every type of project (e.g., house builders aren't necessarily restaurant builders)</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Look for contractors with specific experience in your project type</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Contractor Engagement Approaches:</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Design-Bid-Build: Fully design project first, then get contractor bids</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Design-Build: Bring contractor in early to consult during design process</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Each approach has pros and cons depending on project scale and budget</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Networking Tips:</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Attend industry events like Urban Land Institute, ICSC, local Real Estate Investor Association meetups</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Build relationships before you need them</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Be open to unexpected connections and opportunities</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Investment Insights:</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Understanding and marketing an asset is crucial to its success</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">The ability to tell a compelling story about an investment can impact its future sale value</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Always be learning and expanding your professional network</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Personal Updates:</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Recently spoke at Midwest Real Estate Investors Conference</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Onboarding a new admin assistant</p><p class="" data-rte-preserve-empty="true" style="white-space:pre-wrap;">Expanding brokerage team due to increasing workload</p>