Pros and Cons of Working with a General Contractor That You Probably Didn’t Know
Do you really need a general contractor for your construction project? Why need one when you can save a lot of money by doing it yourself?
That’s what we’ll find out in this week’s episode of Women Creating Wealth.
Last week, we had Ann McNeill from MCO Construction, and we talked about the best way to work with real estate contractors. And today, we’re going to dive deep into it by weighing the pros and cons of working with general contractors (GC).
With DIY home improvement videos on the rise and, of course, HGTV (who doesn’t love this?), it’s pretty tempting to go out there and do it yourself instead of paying a GC.
But let me tell you this.
You got to consider a lot of things before deciding on doing it your own vs. hiring a GC. You have to ask yourself…
- Am I materially changing the space, or does it require permits?
- How long is the project going to take?
- Have I ever done something like this before?
- Do I have the right connections to work with?
So, tune in to today’s episode as we answer those questions above and uncover the advantages and disadvantages of working with general contractors.
If you’re taking on a house renovation project or sprucing up your old place as an Airbnb rental, this episode could be exactly what you need right now to help you weigh things.
Let’s get started!
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Key Takeaways:
- Introduction (00:00)
- Create a project plan first (00:44)
- Essential questions to ask yourself (01:32)
- Do you have unlimited time? (08:50)
- General contractor vs. subcontractor (09:11)
- Advantages of acting as your own general contractor (11:43)
- Pros and cons of working with a general contractor (15:13)
- Final thoughts (22:21)
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Additional Resources:
- Sign up for my FREE real estate mini-course here
- Grab a copy of my book Empower Your Inner Millionaire
- Visit my real estate blog here
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Women Creating Wealth is a podcast empowering women to achieve financial freedom through real estate investing.
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