As soon as I saw you, I knew…
I knew that you had what it takes…
I knew that you had the passion and desire of a champion…
I knew that you have the makings of becoming a general contractor to the stars!!!
“But, But, But…” you say. “I am afraid of being the general contractor on my house renovation, because I don’t have the experience.”
Well…I can understand that and it is somewhat true. A general contractor will give you a level of comfort in knowing that there is someone with experience, who should be able to deliver a project that is of good quality, on time and on budget.
But there are so many variables that are involved within the project itself, that can lead to a project being of poor quality, missing its completion date and over budget.
In my 30 years of experience in working in the construction and renovation industry, I can assure you that it doesn’t matter who you have as your general contractor. There are so many things that can create havoc within your house renovation, and the primary cause is you…the client.
Instead of sticking to the plan, the specifications or the allowances that were agreed upon before starting the renovation, you, the client, go in and start upgrading and changing a bunch of things in the renovation that pushes you over the budget.
As a general contractor, I see it all of the time…
In fact, I bank on it so that I can put premium gas inside my sports car.
There have been times when I took on renovation projects where I had priced it out to break even, to just get the job. I knew that I was going to make a lot of money from the upgrades and changes that the client was going to make, along the way through the renovation process.
You see…a wily ole contractor like myself knows when to throw out their traps and make a house renovation very profitable for me, and overspend on the budget.
I have developed a sixth sense for this, and I can spot money from a long way away. Pretty freaky stuff…
In addition, a general contractor like myself has the experience to know where there will be additional work that has not been planned or allocated for. I know that removing the parquet hardwood floor is going to cause a difference in the height of the stair nosing to the new ¾” hardwood floor, as an example.
I know that you will have to replace all of the stair and railing nosing to accommodate this and it will be an extra that I will charge, and depending on how aggressive I was with my pricing and whether I liked you or not, it could be a little or it could be a hell of a lot.
Just some of the tricks that an old veteran like me has up his sleeve…
So…This notion of price certainty rarely happens.
That’s why you should be your own general contractor on your house renovation project, as the premium that you are going to pay for their services, will end up staying in your pocket. There is no secret in our business. General contractors make anywhere from 30% – 50% profit margins on the total invoice submitted to you.
Wouldn’t that money be much better, staying in your pocket rather than in mine?
For more information on house renovations and real estate investing, visit VanSturgeon.com to help you in your real estate investment journey.
By Van Sturgeon
