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I’ve Never Regretted Firing a Contractor Too Soon | Ep 25
Firing contractors is one of the most uncomfortable parts of real estate investing — and one of the most expensive if you do it wrong.
In this episode of The Real Wealth Formula, Brad Hovis breaks down exactly how and when to fire contractors so you don’t lose time, money, or control of your project.
Brad shares hard-earned lessons from decades of rehabbing properties, including:
-why he has never regretted firing a contractor too soon
-how poor character costs more than poor craftsmanship
-how contracts, lien waivers, and fast decisions protect your assets
-and how to avoid being held hostage on your own property
This is not theory. These are real stories, real mistakes, and real systems that protect your cash flow and your peace.
If you’re rehabbing houses, managing contractors, or planning to invest in real estate — this episode can save you thousands.
✔ why people stay stuck financially for decades
✔ why lifestyle creep quietly destroys progress
✔ how avoidance keeps people stressed and overwhelmed
✔ and how real wealth is built slowly, intentionally, and with purpose
If you’ve ever felt behind, discouraged, or confused about money, this episode will bring clarity, conviction, and hope.
💡 Key Takeaways
✔ Why firing contractors early saves money and stress
✔ The biggest red flags that tell you a contractor won’t work out
✔ Why character matters more than skill on job sites
✔ The “starting five” contractors every investor needs
✔ Why you should never pay for incomplete work
✔ How contracts and lien waivers protect your property
✔ What to do immediately after firing a contractor
✔ When it makes sense to “pay them off” and move on
✔ How systems turn rehabs into a repeatable business
✔ Why strong contractor teams accelerate passive income
🔗 Resources and Links Mentioned
REIBIZ: reibiz.com
FreedomSoft: realwealthformula.com/sponsors
PropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.com
Phone: 877-77-MOGUL
Email: Real Wealth Formula
LinkedIn: Real Wealth Formula
Instagram: @realwealthformula
X (Twitter): @realwealthshow
TikTok: @realwealthformula
YouTube: Real Wealth Formula
⏳ Chapters
00:00 – Introduction
03:56 – The Biggest Red Flags on Job Sites
04:38 – Why Firing Too Late Always Costs More
06:09 – The “Starting Five” Contractors You Need
07:00 – Specialists vs “I Can Do Everything” Guys
08:10 – When to Fire a Contractor Immediately
09:20 – Why You Never Pay for Incomplete Work
10:08 – Contracts, Lien Waivers & Protecting Yourself
11:50 – How to Avoid Being Held Hostage
12:49 – Real Stories of Contractor Blow-Ups
13:40 – When It Makes Sense to Pay and Move On
15:01 – The Right Way to Negotiate a Clean Exit
17:58 – Building Contractor Teams That Scale
20:35 – Turning Rehabs Into a Repeatable Machine
21:25 – Final Advice
View all episodes
By Brad HovisFiring contractors is one of the most uncomfortable parts of real estate investing — and one of the most expensive if you do it wrong.
In this episode of The Real Wealth Formula, Brad Hovis breaks down exactly how and when to fire contractors so you don’t lose time, money, or control of your project.
Brad shares hard-earned lessons from decades of rehabbing properties, including:
-why he has never regretted firing a contractor too soon
-how poor character costs more than poor craftsmanship
-how contracts, lien waivers, and fast decisions protect your assets
-and how to avoid being held hostage on your own property
This is not theory. These are real stories, real mistakes, and real systems that protect your cash flow and your peace.
If you’re rehabbing houses, managing contractors, or planning to invest in real estate — this episode can save you thousands.
✔ why people stay stuck financially for decades
✔ why lifestyle creep quietly destroys progress
✔ how avoidance keeps people stressed and overwhelmed
✔ and how real wealth is built slowly, intentionally, and with purpose
If you’ve ever felt behind, discouraged, or confused about money, this episode will bring clarity, conviction, and hope.
💡 Key Takeaways
✔ Why firing contractors early saves money and stress
✔ The biggest red flags that tell you a contractor won’t work out
✔ Why character matters more than skill on job sites
✔ The “starting five” contractors every investor needs
✔ Why you should never pay for incomplete work
✔ How contracts and lien waivers protect your property
✔ What to do immediately after firing a contractor
✔ When it makes sense to “pay them off” and move on
✔ How systems turn rehabs into a repeatable business
✔ Why strong contractor teams accelerate passive income
🔗 Resources and Links Mentioned
REIBIZ: reibiz.com
FreedomSoft: realwealthformula.com/sponsors
PropStream: realwealthformula.com/sponsors
🤝 Connect With Us
Website: www.realwealthformula.com
Phone: 877-77-MOGUL
Email: Real Wealth Formula
LinkedIn: Real Wealth Formula
Instagram: @realwealthformula
X (Twitter): @realwealthshow
TikTok: @realwealthformula
YouTube: Real Wealth Formula
⏳ Chapters
00:00 – Introduction
03:56 – The Biggest Red Flags on Job Sites
04:38 – Why Firing Too Late Always Costs More
06:09 – The “Starting Five” Contractors You Need
07:00 – Specialists vs “I Can Do Everything” Guys
08:10 – When to Fire a Contractor Immediately
09:20 – Why You Never Pay for Incomplete Work
10:08 – Contracts, Lien Waivers & Protecting Yourself
11:50 – How to Avoid Being Held Hostage
12:49 – Real Stories of Contractor Blow-Ups
13:40 – When It Makes Sense to Pay and Move On
15:01 – The Right Way to Negotiate a Clean Exit
17:58 – Building Contractor Teams That Scale
20:35 – Turning Rehabs Into a Repeatable Machine
21:25 – Final Advice