Looking for Contractors in Seattle/Denver
Hello, I'm looking to connect with local Real Estate Investors with referrals to Contractors in either both Seattle or Denver. I have friends and family in both places. I tend not to follow any recommendations from family or people who are not in the business of flipping houses. This all leads me to the community of bigger pockets. I appreciate any help in which I'm willing to go above and beyond for any good referrals and information.
Thank You All.
Patrick.
Hi Patrick ~
I can tell you a couple to stay away from in Denver. Depending on what work you are looking to have done, I may have some recommendations for you. PM me if you wish. Good luck ~ Debi
Thanks I would appreciate it.
I can help with Seattle
I know some in Seattle - more so in the south end (Tacoma/Puyallup). Let me know what area you need!
Hey Patrick, I live and work (construction) in the Seattle Metro and depending on the location your looking at, I may be able to help you out with finding some quality contractors. Shoot me a private message if you would like to talk a little more.
Both markets you're looking to enter in are very hot markets. Finding a good GC is hard, as is finding a deal. Curious why you're not trying to flip in your own state? If imagine it would be easier to run a flipping operation there.
Are you willing to fly out here a few times to make sure your flip is on track? Most GCs still need to be managed. That or you can partner with someone local.
Nghi, thanks for the response. My reasoning for looking into those markets is simple. I am more familiar with the areas in both cities. When I posted this discussion it was for the purpose of getting feed back from the community and investors first hand experience with those markets. Are you flipping houses in Seattle now? If you are what is your experience so far? Feel free to DM me I’d appreciate your intel.
Thanks.
Patrick.
We used to flip in King County, but have expanded to other counties because margins are so tight in King County and everything is so expensive (for example, my holding cost is $8k+/month on one of my Seattle flips). You're competing with other flippers who are including high appreciation in their numbers. BP talks about the 70% rule, but most deals here are 80-85% rule, which are too risky for me. Even off-market/wholesale deals have too many eyes on it. And now we have some wholesalers who sell their deals to the highest bidder instead, so crazy bidding frenzies don't just happen on the MLS.
It's a seller's market here, and also a contractor's market. The good ones know they can charge a premium. If you find someone that's cheap and readily available, be careful. Another tip: I've always believed that the success of any flip is dependent on how often you check up on it.
I'm also building flipping operations in other states with markets that are a little less crazy.