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.

✔ 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

REIBIZ: reibiz.com FreedomSoft: realwealthformula.com/sponsors PropStream: realwealthformula.com/sponsors

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

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