Look for investor friendly contractors
Good Morning BP members,
I am starting my real estate journey and I am pursing the BRRRR method. I am currently in the process of viewing and narrowing down properties I find interest in that would be a good deal. I am looking for some investor friendly contractors to gain some bids on my upcoming project? I would love to build and create some connections. Let's Connect!
Most Popular Reply
#3 All Forums Contributor
- Attorney
- Philadelphia
What qualifies a contractor as being "investor friendly"? For me, "Investor Friendly" means being licensed, ability to pull all permits, good communicator, is on top of their subcontractor contract management, makes sure I get insurance certificates and endorsements from all subcontractors listing me as additional insured under their policies, honors warranties, has credit accounts at supply houses and can work well with my bank draw schedules, is willing to approach me when there are issues rather than cut corners to "stay on budget". These contractors will cost more but are going to be the contractors you want to align with for the long run. Using them may kill deals but if the only reason why the deal pencils is because the investor is willing to use the cheapest contractor, its likely not a property worth purchasing.