Selecting the right contractor for your value add projects can be challenging. Having the right contractor on your team can save you from making some very expensive mistakes, make a construction project execute with ease, and frankly, help you sleep better at night. Partnering with the wrong contractor will leave you with a constant headache.
Our special guest on today’s episode is Jorge Abreu, CEO of Elevate Commercial Investment Group and Founder of JNT Construction. Elevate serves to provide a higher standard of living for residents as well as facilitating an above average return for investors. JNT Construction focuses on helping multifamily investors with their full renovation needs as well as ground up development projects. As both an active investor and construction expert, Jorge provides a very specialized perspective on managing a Cap Ex project and budget, conducting due diligence, and vetting and partnering with your contractors.
Jorge has been a full-time real estate investor for over 14 years, starting with single-family and small multi-family properties. He has since wholesaled over 200 properties, flipped over 100 properties, and has completed over $8 million in ground-up developments. He is a general partner (GP) in 1720 units and a passive investor in another 1400 units. Jorge is an official member of the Forbes Real Estate Council and holds a Bachelor’s Degree in Construction Management and Electrical Engineering from Florida International University.
In this episode, we cover:
How did Jorge manage to scale his business as quickly as he did?
What challenges did Jorge have to face as he transitioned into multifamily investing?
What are the common mistakes operators make with their CapEx plan?
Things to assess and look for when conducting due diligence.
How to vet your contractors.
How to communicate with contractors throughout the project.
Tune in to the entire episode as Jorge covers these informative points and so much more!
The Final Four:
1. What do you like to do for your continued education to further your investing?
Jorge: “I’m huge with audiobooks. When I’m working out, I’m listening to a book. When I’m driving, I’m listening to a book. Sometimes if I’m outside by the pool, I’m listening to a book. I try to associate myself with those that are at my level or even higher, surround myself with them and just soak up as much as I can. Never think you know it all. Always be learning.”
2. What have been some of the most lasting lessons that you've learned along your journey?
Jorge: “Focusing. There’s so much noise out there, so many shiny objects. Staying focused is huge. Conquer whatever it is you want to conquer.”
3. What advice would you give to the listeners to help them grow their businesses?
Jorge: “Once you’re focused, network. I know everybody says that a lot too, but do some real networking, real building relationships. It will take you a long way.”
4. Tell the listeners how they can learn more about and get connected with you:
Jorge:
Email: [email protected]
Website: Elevate Commercial Investment Group
Resources mentioned by Jorge:
Books:
Traction: Get a Grip on Your Business, by Gino Wickman
