Choose A GC Who Will Make You Shine ✨
Let’s assume you’ve done everything right.
✅ You’ve found a property with lots of potential
✅ You’ve run all the numbers, and they make sense
✅ You’ve lined up competitive financing
✅ You have a solid exit strategy (and a contingency plan)
You’ve positioned yourself well for success. Congratulations! 👏
But there are still a few pitfalls to avoid. One of the most fraught is choosing a general contractor (GC) who doesn’t perform. Even the best property with perfect financing can turn into a money pit with the wrong contractor.
After financing hundreds of renovation projects, we suggest vetting a potential GC using the questions below to avoid problems down the road.
1. "Can I see your current job sites - not just your finished work?"
Anyone can show pretty "after" photos. Visit active job sites unannounced to see:
- How clean and organized the site is
- Whether proper safety measures are in place
- If workers appear productive and focused
As Scott Willasch, NavCap’s Director of Inspections, often says, "don’t just tell me what you’ve done, SHOW me."
2. "What's your payment schedule, and how do you handle change orders?"
Get crystal clear about when they expect payments, what triggers each draw, and their process for handling inevitable changes. Good contractors have established systems for handling money - not vague promises.
3. "Who will be on-site daily, and how often will YOU personally be there?"
Many investors meet with the experienced contractor during bidding, only to discover that person rarely visits their project. Confirm who manages the site daily and how often the main contractor personally inspects the work.
4. "What's your worst project disaster story, and what did you learn from it?"
Every experienced contractor has had projects go sideways. What matters is how they handled it and what they learned. Be wary of anyone claiming they've never had significant problems or who blames clients entirely.
5. "Can you provide a detailed timeline with specific milestones?"
Vague completion promises are worthless. Demand a detailed schedule with specific milestones and regular update meetings. For investors using hard money loans, timeline accuracy directly impacts profitability. Luckily for you, NavCap offers a free Scope Of Work(SOW) template that you can download right from our website. Sharing this SOW with your contractor up front will eliminate headaches down the road.
The Bottom Line
At Navigator Private Capital, we've seen the renovation spectrum from smooth to disastrous. The difference usually comes down to contractor selection. You're not just hiring technical skills but a project manager, communicator, and problem-solver.
Need financing for your next investment? Reach out today to discuss your project needs or request a free, no-obligation quote below: