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Updated almost 2 years ago on . Most recent reply

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Glen Page
  • New York City, NY
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Steve Wilcox
  • Investor
  • Cranford, NJ
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Steve Wilcox
  • Investor
  • Cranford, NJ
Replied

I am an owner of licensed GC co that works in Union and Essex county specializing in rehabs for investors. We are not really looking to take on any new clients but I can make some recommendations to you from looking.

Decide what involvement level you want to have in the construction process. We work primarily with investors who do a certain amount of volume or do not have the time/ desire to babysit. We are not the cheapest and are not trying to be, we provide quality service, and get work done quickly and professionally. Some people see value in that, others see value in lower price even if it means more head aches, and possibly burning through more then 1 GC per job. Keep in mind that if you want professionals who have quality workers, ect, that comes at a price. 

You hear lots of horror stories on BP about bad contractors, ect, however I find that as investors we tend to be very frugal, and tend to go towards price first. Many contractors will give bids that are very low with either 1. the expectation that they will make up for it with change orders or 2. because they don't really know their costs and they will stop showing up once they realize they are going to loose money based on the quote they originally delivered. 

Make sure whoever you use can provide you with a realistic budget for the work, reasonable payment schedule (not 50% upfront), and can provide you with an organized estimate (not on the back of a napkin or 'I can fix this for $X').

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