How to Find the Best Contractor for House Flipping
If you’re going to be successful as a real estate flipper, you have to find a great contractor for house flipping. A fix and flip project is going to have a different timeline and priorities than an owner-occupant remodel. As a real estate investor, time is money for you. The faster a remodel project is finished, the faster you can realize a profit on your investment. You’ll pay less in financing costs, too.
So–how to do you go about finding a contractor for house flipping? If you have investor mentors, get referrals from them. Referrals from people you trust are probably the most dependable way to find contractors. Another good way is to drive around the neighborhood where your property is. If you see a crew working on a house, stop and talk with them. You can tell pretty fast whether they are respectful, careful workers. Get their card if they are.
Ask Real Investor Friends for Referrals to Find Awesome Contractors
For your first couple of projects, one contractor company might be just fine. However, as you grow your business, you need to be on the look-out for more. When you find someone you want to try out, give them small jobs. Do they show up on time? Do they do the work when they say they will? Only do business with people who are dependable!
Finally, no matter how great your contractor is, you need to be really clear about expectations in your contracts. Be sure estimates include materials and labor. Have an explicit timeline of how long the project should take. Schedule payments clearly.
Be persistent until you find a couple of great contractors you can depend on.