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BlogArrowReal Estate Investing BasicsArrow2 New Takes on How to Find a Good Contractor
Real Estate Investing Basics Oct 24, 2019

2 New Takes on How to Find a Good Contractor

Ashley Wilson
Expertise:
6 Articles Written
contractor

When you are first starting out in real estate, everyone tells you how important having the right team is, but some team members are easier to find than others. More and more investor-friendly lenders, equity partners, agents, lawyers, and even accountants are starting to pop up since the popularity of real estate has skyrocketed.

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But there is one part of your team that has become much harder to find: contractors. The demand for contractors is so high right now that even the bad ones have no trouble finding jobs. Your contractors are arguably the most crucial piece in a real estate deal, especially if you are flipping houses.

Finding Good Contractors

So how do you go about finding the right ones in a booming market? We have all heard the standard, “Go to Home Depot at 6 a.m.” advice, but over the years I have had the most success using the following two methods.

1. Referrals

referral-real-estate

I know I know, we have all been told this a million times but I actually have a different spin on this so hear me out.  Because good contractors are so hard to find these days, you will actually have a hard time getting a referral from another investor. 

Most people believe that if your contractor takes on another client, it’ll be harder to schedule them when you need them. I would argue that referring your contractors to other good clients is a way to show them your appreciation for their work. Let’s not forget to mention that this will keep your contractor happy—but that’s beside the point. 

The referrals I am talking about are from other contractors. The old “birds of a feather” saying definitely rings true in the construction world. And if you really want to know who the good subs are, then ask the subs who do work following someone else. 

For example, you can start with painters. Ask them, “Which drywallers do you like working with and why?” Painters do work immediately following drywallers. When drywallers install and prep the walls correctly, the painter’s job is a lot easier. They will also if they can stick to a timelines because if drywallers are late, the painters are the ones who get bumped.

The same goes for framers, electricians, plumbers, etc. Don’t get me wrong, if you have a great network of fellow investors who are willing to share their subs, then that is probably the best way to go. However, if you are just starting out, contractor referrals can be extremely beneficial. 

Related: 7 Tips for Finding (& Keeping) the Best Contractors For Your Team

Driving for Dollars

driving for dollars

I don’t mean driving for dollars in the conventional sense, but more so driving for contractors. I would argue this is just as important as driving to find houses since good contractors, even if they charge you more, end up saving you thousands of dollars in the long run. 

While you can go for the modified Home Depot at 6 a.m. method and drive around to find the early birds, I prefer to find contractors who are working on weekends. These contractors are pure gold since you know they are committed to the job. And if you get in a time crunch, they are most likely willing to work the weekend to complete the job.

The best part is that it is pretty easy to find them. Every time you are driving during the weekend, and you see a contractor working on a house, stop and get their contact information. It is that simple! In fact, I found my painters using this method four years ago, and I still use them today.  

Related: 10 Essential Real Estate Team Members (& How BiggerPockets Takes the Pain Out of Finding Them)

In Conclusion…

These are not the only two methods to find contractors, but for me, they have yielded the highest success rate. I always try to fire fast and hire slow, but using these two methods have increased my contractor retention rate.

How are you finding contractors, and have you tried the methods I mentioned above? If so, what’s your success rate?

Share with a comment below!

By Ashley Wilson

Ashley Wilson, co-founder of HouseItLook LLC and Bar Down Investments LLC, started investing in real estate in 2010 with a single rental property. HouseItLook, located in the suburbs of Philadelphia, Penn., specializes in flipping early-1900s homes needing full-gut renovations. Bar Down Investments runs construction and asset management on large multifamily projects, while simultaneously offering investors opportunities to invest in real estate passively. Today, Ashley has overseen over $3 million in construction and completed over $36 million in transactions, including both single and multifamily real estate. Ashley has been featured on numerous podcasts, including episode 277 of the BiggerPockets Podcast, and was a contributor to BiggerPockets' Facebook Live.

4 Replies
    Daniel Gengaro from Bloomsbury, NJ
    Replied about 1 month ago
    Just starting out myself so this was very helpful and enjoyed your spin on things.

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    Ashley Wilson Rental Property Investor from Radnor, PA
    Replied about 1 month ago
    Thank you, and best wishes!

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    Carol Hall from Jacksonville, Florida
    Replied about 1 month ago
    I like these recommendations! We even asked our inspector for recommendations. We will give them a test run on the next property we purchase.
    Ashley Wilson Rental Property Investor from Radnor, PA
    Replied about 1 month ago
    Thank you! Keep me posted on how they work out for you!

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