Closing the Gap Between Investors and Contractors with Ryan "Rotty" Garcilazo
Ryan Garcilazo, better known as Rotty, is a real estate investor and the CEO of The Rehab Depot. With a business focused on rehabbing and general contracting, Rotty is on the show today to help us learn more about managing your rehab budget, working with contractors, and more.
Listen now to learn more about Rotty’sx experience in real estate through the years and how you can build a strong relationship with your contractors for more successful rehabs!
Key Talking Points of the Episode
00:00 Introduction
00:27 What is Rotty’s background?
02:38 What advice does Rotty have for investors in today’s market?
03:47 How can understanding general contracting help you as an investor?
06:48 What was 2008 like for Rotty’s business?
08:32 How can understanding the hedge fund model help your business grow?
10:30 What is the importance of having a flawless system in your business?
11:37 How does Rotty’s business work today?
12:25 Why do investors need to understand how the construction process works?
18:11 What is labor burden for general contractors?
20:03 How do general contractors manage construction budgets?
22:37 What contingencies should lenders have for rehabbers?
24:30 What do most investors overlook when doing rehabs?
25:22 Why is transparency important when dealing with general contractors?
28:15 What is the real purpose behind building rapport with your contractors?
31:48 What is Rotty’s advice to real estate investors focused on rehabbing?
36:05 Where did the idea for Rotty’s virtual project management service come from?
37:11 How do virtual project managers make the rehab process more convenient?
39:15 Why do we need virtual project management in the real estate space?
41:39 What is a Gantt Chart and why should you understand it?
43:02 What is the number one mistake investors make when rehabbing properties?
43:57 How can you get in touch with Rotty?
Quotables
“It’s extremely important to understand that when you are an investor, I don’t care what you invest in, if you don’t understand our side of the fence, we will take your money.”
“It is not your contractor's job to teach you how to rehab your property.”
“The more an investor understands the process of construction, you singularly can eliminate 90% of your problems.”
Links
Website: The Rehab Depot www.callmydog.co
Instagram: rottyflippedit https://www.instagram.com/rottyflippedit/ Linkedtr.ee:@Getrotty https://linktr.ee/Getrotty
Website: RCN Capital
https://www.rcncapital.com/podcast
Website: REI INK