Help! Need a contractor!

1 Reply

I found a great deal in Boardman Ohio and need to find a contractor to do some work on a flip. Any advice on where I should begin my search and how to do it?

Best place to start is at your local REI group. There will likely be contractors there. You'll be able to tell which ones are held in high regard by other investors and which ones aren't. (Some guys who can't get business anywhere else troll the investor meetings looking for work, so check out whether the credible investors seem to have respect for the one you're talking to.)

In general, contractors are going to fall into the "two men and a truck" version, and the "real business" version. There are gradients in between. The problem is that lots of investors go for the first kind, because they're cheap. Some of them are good, but if you get a bad one, you get the horror stories you hear on here every day about "Help! My contractor did XYZ! What do I do?"

Contractors who are real businesses have overhead and won't be as cheap, but they also tend to hit deadlines better and deliver quality more consistently. But you need to check them out. But if you always pick based on lowest price, you have a high chance of getting a bad experience.

Your best bet will be a contractor who is also an investor. They're out there. And they can give you good guidance, if you're willing to take it. 

Do be aware that a good contractor is maybe the single most important relationship for an investor to have, so others may be reluctant to really share their best guy. But they'll often be at the REI meetings, which is why that's a good place to start.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here