Ep. 213 – Things You Need to Know About Builders

Introduction Choosing the right builder can make or break your development—both financially and emotionally. This episode shares the lessons we’ve learned from working with builders across dozens of projects, including the good, the bad, and the completely avoidable. We break down what makes a great builder, how to find one, and what red flags to look for before signing a contract. From communication styles to contract timelines, referrals to builders going broke mid-project, this episode unpacks the realities developers need to be ready for. Links Register for the Masterclass: https://bit.ly/45kCg0e Chat to Hilary about the current investment opportunity we have: https://bit.ly/41tSFhC Join the Ultra-Urban Database for upcoming investment opportunities: https://bit.ly/45sqO2F Head on over to our website to find out more about our workshop and education options: https://bit.ly/4fyZWm  Episode Highlights [09:10] How to find a good builder: referrals from trusted sources[10:45] Traits of a great builder: communication, flexibility, and going beyond the contract[12:15] Practical example: removing $35K of stonework that didn’t impact value[14:40] Builders referred by multiple consultants—how to spot reliable patterns[15:30] Value management in builder meetings: how smart builders save you money[16:40] Should you accept late tenders? Bob’s take from experience[17:55] Why builder introductions from your team (architect, planner, marketer) matter[18:30] When things go wrong: builder disputes and legal fallout[19:45] Builders going broke mid-project—how to manage and recover[21:00] Why new builders often won’t take over partially finished jobs[22:30] The hidden costs of delays: interest, time lost, and reduced profit[23:15] The risk of character shifts: personal issues that can affect builder reliability[24:40] Hilary’s reno stories: when hiring family goes wrong[29:40] Business lesson: short-term operators don’t survive in the long run[30:30] Final advice: if you’re good, word gets around—referrals do the heavy liftingSee omnystudio.com/listener for privacy information.