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Hub You - Questions About Hiring Contractors as a Real Estate Investor?
Many email users think that the use of auto-responders are only to be used when you are out of town. With the speed of the Internet, many people expect a quick response when you are in town. Often you're not in front of your email or can't respond quickly because you're with a client or in a meeting. This is when you need to have your auto-respond turned on, and many savvy agents have it on 24/7, just in case a lead or query comes in via email. It's easy to compose a standard reply, think about what your message says on voice mail and incorporate similar ideas. Keep in mind that the Internet user wants assurances that you'll get back to them promptly.Here is a standard auto response. Thank-you for your message. Your question or request for information is important to me. I return all emails within two hours during business hours and the next morning after hours. If your request needs immediate assistance please call me or send a text message to my cell phone: 866-866-1234. I look forward to serving your real estate needs. Visit me online at: www.MainStreetUSA.com for digital property brochures and virtual tours. Warm Regards, Rebecca
The ability to bring people together to accomplish a task is a difficult talent to master. It takes a combination of acquired skills and experience to guarantee the success of anyone in a leadership role. An incompetent manager can have a devastating impact on an organization. A leader with the knowledge, experience and insight necessary to ensure a high performing and profitable organization is hard to come by. In a recent Gallup survey, it was found that 25% of U.S. employees would fire their boss if they could. With one out of four managers failing, it is easy to see how ineffective management decreases employee performance and increases customer dissatisfaction resulting in a negative affect on the organization’s bottom-line.The art of effective management rarely presents as an inbred gift. An effective manager must be an innovative leader who exhibits creativity, enthusiasm, confidence and an innate respect and good will toward every individual within the organization. The manager has to be willing to embrace new concepts and reconsider old practices in order to unleash the potential of the team. To be an effective manager, one is required to learn and utilize four basic management tools: coaching, feedback, counseling and discipline.Coaching is the ongoing, i
Does the contractor need insurance? You need to make sure you or your contractor has two types of insurance.
The Two Types Are:
A. Workman’s Compensation Insurance: If you are doing a lot of rehabs, you will want to get a minimum workman’s compensation insurance. If your contractor has workman’s compensation insurance, you will want him to give you a copy of his insurance with you shown as an additional named insured. You then have proof of coverage. Even if you have a minimum policy covering you, you will still need the proof of coverage for your insurance carrier or you will be charged for their cost on your own policy. If you hire a contractor working by himself he can choose to exempt himself from workers compensation, but he needs to sign a form that you get from your insurance company.
B. Liability Insurance: Make sure again that you’re named as additional insured on your contractor’s policy or have your own policy. You should talk to insurance experts to determine the amount of coverage you need.
C. Builder’s Risk Insurance: You may want to check on getting builders risk insurance for other coverage on your equipment, tools, and etc.
How do you pay your contractor?
If you are dealing with new contractors that you don’t have a track record on, I recommend that you buy a small amount of materials and see that they get the materials to the job. Only pay for the work that gets done. The question you need to ask yourself is if the contractor walks from the job is there enough money to hire someone to finish the job. Even experienced investors, as well as new investors make the mistake of paying out too much on the job all the time. I have had Home Depot call me and tell me that my contractor is bringing materials back for cash refund. I have had great contractors who I have
Affiliate marketing is definitely one of the best ways to earn big fat affiliate check from the Internet. With affiliate marketing, you will only need to focus on driving quality traffic, build your mailing list, and opt-ins to sales.You will not need to worry about how to write a compelling salesletter for the product as this process has already been done by the owner of the product that you are promoting. But you may need to write up an opt-in page to capture email addresses before you direct them to your affiliate site.In this article, I am going to share with you 4 very important techniques that you can use right away to generate the commission that you desire:1. Find the RIGHT product. Clickbank is one of the best places to discover good products to promote. Not all products that are popular are good to promote. Popular products have many people promoting it, and therefore it may not worth your time to promote the same old product again. Also try to find a product that offers at least 70% commission to you.2. Have an opt-in page. Before you direct your traffic to your affiliate site, capture their email addresses and names by giving them a free gift after they have subscribed. When the list starts to grow, you can promote other products that are in the same industry to
The Two Types Are:
A. Workman’s Compensation Insurance: If you are doing a lot of rehabs, you will want to get a minimum workman’s compensation insurance. If your contractor has workman’s compensation insurance, you will want him to give you a copy of his insurance with you shown as an additional named insured. You then have proof of coverage. Even if you have a minimum policy covering you, you will still need the proof of coverage for your insurance carrier or you will be charged for their cost on your own policy. If you hire a contractor working by himself he can choose to exempt himself from workers compensation, but he needs to sign a form that you get from your insurance company.
B. Liability Insurance: Make sure again that you’re named as additional insured on your contractor’s policy or have your own policy. You should talk to insurance experts to determine the amount of coverage you need.
C. Builder’s Risk Insurance: You may want to check on getting builders risk insurance for other coverage on your equipment, tools, and etc.
How do you pay your contractor?
If you are dealing with new contractors that you don’t have a track record on, I recommend that you buy a small amount of materials and see that they get the materials to the job. Only pay for the work that gets done. The question you need to ask yourself is if the contractor walks from the job is there enough money to hire someone to finish the job. Even experienced investors, as well as new investors make the mistake of paying out too much on the job all the time. I have had Home Depot call me and tell me that my contractor is bringing materials back for cash refund. I have had great contractors who I hav
Starting a business anytime is challenging and fraught with missteps, however starting a home business gives you several advantages when you start your business out of your home. Evaluating home business ideas properly is still mandatory, utilizing a financial plan along with cash flow analysis to ensure success.There are many ideas for beginning a home business from your home. Each one will have various advantages and disadvantages. This article focuses on the advantages of beginning your company out of your home vs. renting space in a business park. The main advantage and the one most obvious is that you do not need to pay rent for your office space when you use space in your home. For those people testing ideas or those who are not sure if they want to really invest a lot of time and money this is probably the best approach to use.Rent for the office space is zero cost, utilities and communications costs can be shared with your normal household expenses and any direct expenses can be picked up by the company. If you require a separate telephone line, fax line, computers and high speed connections, these can all be charged directly to your start up business idea.There are a number of other factors that should be considered when evaluating various businesses that you want to opera
B. Liability Insurance: Make sure again that you’re named as additional insured on your contractor’s policy or have your own policy. You should talk to insurance experts to determine the amount of coverage you need.
C. Builder’s Risk Insurance: You may want to check on getting builders risk insurance for other coverage on your equipment, tools, and etc.
How do you pay your contractor?
If you are dealing with new contractors that you don’t have a track record on, I recommend that you buy a small amount of materials and see that they get the materials to the job. Only pay for the work that gets done. The question you need to ask yourself is if the contractor walks from the job is there enough money to hire someone to finish the job. Even experienced investors, as well as new investors make the mistake of paying out too much on the job all the time. I have had Home Depot call me and tell me that my contractor is bringing materials back for cash refund. I have had great contractors who I hav
There are several ways to advertise and get the word out about your business online and the best of them include f-ree search engines, pay per click search engines, writing articles, utilizing press releases, doing joint ventures/ad co-ops, and posting to message boards and forums related to your target market.But one advertising method that's neglected by most online marketers is off-line advertising.There are several low/no cost ways to advertise off-line and I want to share 3 of them with you.1) Business CardsIf you are serious about your business you must have business cards. They are cheap and are a great way to attract potential prospects or customers. Simply hand them out to people who you feel may be interested in your business.Also, whenever I visit a restaraunt, bar, or club, I'll leave my business cards in all of the bathroom stalls. (Just make sure nobody is in there of course... lol!)And don't laugh at this! It really works. When I visit the bathroom an hour or two later, I'll find that all of my business cards are gone and I'll have a fresh new set of sales the very next day.You can get f-ree professional looking business cards at VistaPrint.com, all you have to pay is shipping and handling:http://www.vistaprint.com2) Flyers. You should talk to insurance experts to determine the amount of coverage you need.
C. Builder’s Risk Insurance: You may want to check on getting builders risk insurance for other coverage on your equipment, tools, and etc.
How do you pay your contractor?
If you are dealing with new contractors that you don’t have a track record on, I recommend that you buy a small amount of materials and see that they get the materials to the job. Only pay for the work that gets done. The question you need to ask yourself is if the contractor walks from the job is there enough money to hire someone to finish the job. Even experienced investors, as well as new investors make the mistake of paying out too much on the job all the time. I have had Home Depot call me and tell me that my contractor is bringing materials back for cash refund. I have had great contractors who I hav
If it sounds unlikely to be true, it probably is. This rule holds true even when it comes to credit repair. More often than not, the promises of certain credit repair companies to help clean up your credit history are completely false. Here are some of the things they will ask you to do in order to ‘repair’ your credit:Get a new identitySome companies will try to get you to create another identity – one with no bad history – as a means to clear all your bad credit history. Not only is this impossible, it is also against the law to have another social security number to your name.Submit incorrect informationRather than work on your bad history, these companies insist that you submit incorrect information pertaining to your purchases. This is so that you can dispute the information or get the company to ‘correct’ certain bad histories to make your credit report look better. Technically, it is a good idea but in reality, you are committing fraud.Pay them to get you your credit reportUnder certain circumstances, you are able get a free credit report without having to pay a credit repair company for it. If you are denied the application for a credit card, you can ask for your credit report within 60 days for free. In the event that you spot a mistake within the repo
Should you have a contract with your rehab crew?
I say yes. At the end of this article is a sample contract. See your attorney for what you need in your contract.
Should you pull permits? Yes, Yes, Yes!!! The people I see who try to bypass the system and city inspectors just end up in trouble and end up doubling their cost. The short cut to getting the job done is to pay for the permits required.
The comments in shared personal experiences. They are not intended to be legal or accounting advice nor solutions. You should always consult with the appropriate professional when making decisions.
A Sample of Contract I Have Used:
INDEPENDENT REHAB CONTRACTOR AGREEMENT
This agreement is entered into this day of _________________________. 20 , in the city of ___________________, State of Michigan between ____________________, (owner) of 17177 Laurel Park N, Ste. 265, Livonia, MI 48152 and:
Contractor: ________________________________________________________
Contractor is a Corp. ( ), Ltd Liab Co. ( ) Partnership ( ) Sole Proprietorship ( )
Street Address: ____________________________________________________
City, State, and Zip: ___________________________MI___________________
Phone: ( ) ___________________ Fax: ( ) _________________________
Pager: ( ) ____________________ Cell Pho
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