How to Build Success: Insider Tips from a General Contractor with Ray Negrete
Ray Negrete is a successful real estate investor, a general contractor, and the founder of Rehab Squad. In this episode, Ray talks about his experiences in real estate investing and general contracting. He also shared valuable advice on contracting and customer relationships. Listen now and find out why Ray’s customers keep coming back to work with him and know how he navigates the challenges of general contractors today.
Key Talking Points of the Episode
00:00 Introduction
00:34 Who is Ray Negrete?
02:05 What is Ray’s advice for real estate investors today?
04:20 How does Ray handle customers who haggle for pricing?
07:05 Why is it important to know and understand our customers?
08:27 How much has the economy changed in the last 3 years?
09:50 How did Ray navigate challenges with the supply chain?
12:08 How did Ray navigate the labor market?
16:02 What materials have increased in pricing the most?
18:58 How are real estate investors coping with issues in supply and demand?
20:08 What was Ray’s experience on TV like?
21:06 What is the biggest job like for Ray today?
22:23 How many projects would Rehab Squad manage in 2023?
23:05 How can business owners manage multiple rehabs?
26:04 What is the story behind Rehab Squad’s name?
28:22 What was Ray’s first real estate deal like?
30:49 What part of being a general contractor does Ray like the most?
37:41 What is the biggest mistake investors are making today?
40:46 What should investors be doing differently?
41:53 What are the most common misunderstandings between Ray and his customers?
43:38 What is the importance of building relationships with general contractors?
45:40 What is Ray’s advice to investors today?
46:39 How can you get in touch with Ray?
Quotables
“Find someone you trust and let them. Treat them well and stop trading time for money. Delegate, delegate, delegate.”
“People still don't understand they were paying $25 a square foot for granite three or four years ago. Why is it 35 now? And if I have to explain that to somebody, we're not a good fit man.”
“I think believing, believing in yourself and being a good leader and set examples is definitely a good way to like run a business like this.”
“Getting to know that person and make sure that you guys are a good fit, cause you're, you're running a business and essentially, if it works well, you keep building together. It's a team thing.’
Links
Website: Rehab Squad
https://www.therehabsquad.com/about
Website: RCN Capital
https://www.rcncapital.com/podcast
Website: REI INK