What questions do you have about general contractors

Question

My name is Patrick

I’m a licensed contractor in Raleigh NC and real estate investor.

I would love to help answer some questions you have?

What have you wanted to know that I can help answer?

Fun fact: more investors scare away good contractors by saying the wrong things like “cheap, needs to start asap, I’m an investor, pineapple is great on pizza.”

Instead learn to ask open end questions with a curiosity to your tone of voice.

Anyway comment away

Patrick Knapp · Answer

@Adam Oldham

It can be difficult at first but ask contractors what they can expect for certain things like LVP floors. Like a ball park per sq ft

Adam Oldham · Answer

How does an investor have an idea of what you will charge before having you come out to look at the job? This is always a concern to me as I don't want to waste the contractors time if I know they will be too expensive.

Michelle W. · Answer

Hi! Do you ever work with an owner on a design phase-only contract, and then bid on the job (against others) at the bid phase?

Patrick Knapp · Answer

@Liza Domenech

Asking them if they are licensed to do construction in the state, some states like NC you don’t need a GC license for jobs under 30k, not structural/plumbing/electrical and HVAC.

Ask about past jobs and what do they focus on?

If you are getting a subcontractor saying he can do everything that’s a concern, you want someone who is good at one trade.

Ask for a copy of what there contract looks like?

Ask if they are ok with funds being held by an attorney in an escrow account for safety.

What are realistic timelines?

Do they like pineapple on pizza? If they say yes that’s a big red flag 🚩

Liza Domenech · Answer

As a newbie, what are the most important questions to ask GC and/or Sub contractors prior to choosing them for a project?

Patrick Knapp · Answer

@Ryan Pritchard

Depends if your getting bids from (free estimates) guy or if you paying for an estimate.

I wouldn’t suggest you have everyone come at the same time, if someone is desperate they might low ball the bid, than later on either tell you it needs more or not show up.

You want fair honest bids, you don’t want anything to influence a contractor into lowering the price because typically when they lower the price you’re losing something they’re not gonna do something for less without taking away quality or time.

Just my opinion, good contractors are busy. Simple

The cheap contractor will cost you more in the long haul.

I suggest paying for estimates, why? You won’t have the problem most due, which is scheduling someone and they never show up, the show up and never get you a bud or worse the bid it and change the price later on by saying it’s more than they expected or i underbid myself. When paid they will take their time and focus on the details.

If a contractor says it’s hourly or a flat fee for a bid/estimate that’s a good sign.

Patrick Knapp · Answer

@Nathan A.

Have a good game plan with a list of materials being used.

When asking/paying for a bud it’s important to know what you want exactly to get a fair apples to apples comparison.

Another thing would be knowing how to talk to a contractor.

Most people I talk to don’t say the right thing and can come off in a bad way. Saying the words cheap or asap. Instead tell them you are trying to focus funds in certain parts of the renovation. Contractors are the most important part of investing, without us you will have to work and trust me you don’t want that lol

Ryan Pritchard · Answer

@Patrick Knapp- One question I have been wondering about is about the bidding stage of the project. Is it messed up to invite multiple contractors for the same trade to show up and bid a project at the same time?

Pros: It would save my property manager time by lumping them together, I feel it would also ensure all my bases are covered having extra sets of eyes review it simultaneously, and could also yield possibly lower prices with them knowing there is other competition.

Cons: I worry this could anger contractors.

Thanks for offering your advice!