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How to get builders wanting to work with you as a landlord
- 1. A builders guide – How to improve communication to get better results on your next renovation. The Trades Builders Plant
- 2. Agenda • 3 Steps to success • Communication • Standard Building Process • Finding a builder • Vetting a builder • Why Builders will love to work with you
- 3. Rob Turner • Retired from building work in 2016 • Property investing full time • Simon Zutshi’s Mastermind Course • Rent to Rent • I now train other builders in my systems • Help property investors work better with builders
- 4. FMB Midlands finalists 2015 Federation of Master Builders
- 5. F O L L O W U P U N D E R S T A N D C O M M U N I C A T E
- 6. UNDERSTAND • What you want - to sell or to let • Project manage • Planning Permission • Building regulations • HMO regulations • CDM Regs (Construction Design and Management) • Write it down – Think on paper
- 7. UNDERSTAND • Time – How long will it take • Costs – Set a budget • Quality – Quick refurb for cash flow or full refurb to sell
- 8. C O M M U N I C A T E
- 9. COMMUNICATE • Be prepared • Use Drawings – Pictures paint a 1000 words • Specification – List of what you want • Contract – JCT • Use repeat back method • Avoid “Don’ts”
- 10. COMMUNICATE • VAT – • HMO Conversion VAT @ 5% • empty for 2 years VAT @ 5% • Empty for 10 years VAT @ 0%
- 11. F O L L O W U P
- 12. FOLLOW UP • Visit Site – A LOT • Site meeting – Agenda • Keep a Site diary – Photo - Video • Defect management - Work to finish • Get certificates • Share a list of changes
- 14. Standard project time table U N D E R S T A N D
- 15. Design Stage Work out what you want Initial visit by designer Sketches approved by client Drawings approved by client Government Regulations Submit for Planning approval Building regulation approval Produce a list of what you want Design Complete Tendering Quotes from builder Builder visits & supply quotes Contract awarded Pre start planning Builders lead time Order materials Health and safety start on site Building inspector Building work on site Foundations Water proof Finish internal Project 98 % complete Snagging Complete Hand over Certificates collected Project Health check Defects liability period 6 Week health check 1 year 6 weeks 12 weeks 2 to 3 weeks min 3 weeks to 3 months As needed 3 to 4 weeks As agreed Standard Project Timetable
- 16. Finding a Builder • General builder or managing trades • Get the right size firm • As a friend for a recommendation • Business networking meeting Tendering Quotes from builder Builder visits & supply quotes Contract awarded
- 17. Vetting a Builder • Visit past jobs including a live project • Similar projects to yours • Ask for insurance – not just Public liability • Companies House • Trade bodies check membership • VAT registered? • THE QUOTE – Their paperwork tells a lot
- 18. Award Contract • Start Date • Finish by Date • List of Work - What they are coming to do • Payment plan • JCT, FMB or your own written contract • BUT DO IT IN WRITING
- 19. Why builders will love to work with you • You’re going to be their best client • Repeat work • Long term relationship • A client that knows what they want • Agreed payment terms • Get through the first job next will be easier
- 20. If you need help • 20 minute chat to review your builders quote give you 10 questions to ask. • 1 to 1 mentoring sessions & phone advice Rob Turner 07399 455 431