One of the biggest goof ups I have ever made with my real estate investing business is hiring the wrong contractor. I hired one contractor from only one reference and that was a big mistake! I was in a hurry and it was really hard to find available contractors. This contractor was never on site and basically just told his day laborers what to do. So, I had smokers taking really long breaks, workers having intimate relations in the house, and workers drinking beer on the job!
To make things worse, I hired this contractor again on a second job! Same story…I was in to much of a hurry and to lazy to find a good contractor. So this time, the contractor stuck me with a $5,000 lien from the HVAC subcontractor! I deserved the hit because of making the same mistake twice!
PRESCRIPTION FOR TODAY: You always reap what you sow: There is no shortcut. (Stephen Covey)