Partner, Margaret Two, Ayaan discussed on BiggerPockets Real Estate Podcast

Automatic TRANSCRIPT

Now, I'm peeling it back starting over. Yeah because I can't trust what he did. That's true. So now you're doing it twice don't ask the dishwasher if you should get the rib eye or the flavor. So that's another piece of tip. If if you're getting your work done in, you're not on a permit that's exactly where you are. Starting from scratch every time you need another contractor. If you're permit than the permit officer comes in and says, yes, you're structures approve. Approve yes, the wiring is approved then you can get a contractor and he says I gotTa start from the beginning and you say, well, that's a load of crap because all of that's approved just go start from. That's that's so true. Hey, Aj before we got here to Margaret Two more quick questions for me that I have anyway sure. First of all, this is a quick one. Would you partner with a flipper in exchange for like the contractor? Would you partner? Do you think with a flipper? Ayaan profit share instead of making money as the contractor like that's something I. we should be at Flippers. We approaching contractors like, Hey, man, let's just put a fifty fifty but you do all the work and You'll get. You'll make more at the end of the day or that a bad idea to lie incentive like that. Wow, I jeff is part of what you're trying to figure out a contract or have the capacity to run the numbers of no deal make sense because they just don't think that way. Are you appealing to the greedy side of human nature for? Like I guess at the question is as as a real estate investor are you concerned that he's just going to run the numbers up and I'm not going to get any money back anyway. So are you trying to protect yourself I? Think what brand new? How do get the contractors interest to align with your so that they do a better job that's and I've never done it but I know I'm always tempted to split it with the contractor somehow, and so like they get done faster and cheaper whatever they find, they find a way to make it better because they are incentivized the more money I make the more money they make. But at the same time like I also know that they're not in the business of that and I don't WanNa like I. Don't know I. I'm not sure if it's a that's that's so much like a marriage. It's not.

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