San Jose, CA · Member since 2018 · 12 posts · 0 votes
Does anyone have their own template of best questions to ask when interviewing/vetting through Contractors, Project Managers, Hard money lenders and Agents?
- how many transactions do you do in a year? Over 30/40/50..?
- do you own rental properties? Most won't.
- have you flipped houses? Most won't.
- how many investor clients do you have? What do they buy?
- call the brokerage and ask for a recommendation of an agent who is an investor.
Hard money lenders will vet you more than you vet them. Make sure you feel you trust them and they are easy to work with. Don't work with a rookie, work with someone who has experience, they will guide you as well.
Vetting contractors is not easy. Best is to ask other investors for recommendations. Or go where new houses are built and hit up guys there - if they work for a builder, they should be alright at least.
As with all og these a lot comes with experience, so at some point you'll have to pick a property and go for it! Don't try to make all your money on the first one, the main goal is to go through the motions and not loose money. Play it safe, buy a quality deal, even if you have to pay a bit more. A single family or duplex with some cosmetic rehab is usually a good starting point; stay away from full gut jobs for now.