Updated almost 10 years ago on .
Need Quick Repair Estimates
The chicken or the egg...which came first? My dilemma is similar to this, I am in the process of trying to flip a home and I keep losing out because some one else gets a contract on the property before me. Why, because I am using the Fanne Mae HomeStlye program as my flip and I have to use a general contractor and a HUD consultant on the flip. Who should I have come out first, the general contractor or the HUD consultant???
This is what I am doing, I go view foreclosed homes to see if I think its a good flip, if I see one I then call a contractor out to give me an estimate and the contractor takes 2-3 days to come out and by then someone has put a contract/accepted offer on the home.
I need to know how much the repairs will cost so I will know how much to offer on the property. I actually got as far as getting a contractor to give me an estimate but it was for $110,000; I was blown away, that left me no room for profits and now the home is off the market.
What can I do to secure these homes quicker, how can I get a general contractor that is not going to give crazy huge budgets??? I have missed out on 4 homes already that were listed at least $100k below their fair market value.
-Jerimiah