I am an out of state investor. I need to find a contractor. The management company that I deal with has they're own preferred contractors and they can manage for a fee. But I am also interested in maybe getting my own contractor where there's no fee. I am just exploring other options. When you have a contractor not through the management company who usually oversees the work? How does it work? Any questions to ask the contractors, that can help me decide on which contractor?
Real Estate Broker · Huntsville, AL · Member since 2019 · 1k+ posts · 872 votes
5y
Keep networking in the market of your choice with other investors. Eventually you'll make friends with one of these investors and he/she will lend you some contacts! Likewise you can ask agents!
Real Estate Broker · West Bloomfield, MI · Member since 2018 · 147 posts · 77 votes
5y
In my opinion, this is the job of the property manager. If you don't trust them for some reason to handle these things for you (contractors, oversight, questions, etc.) then it may be a sign that you need a new PM.
I actually trust them a lot. Just looking at other options. Since I am a new investor im just exploring other options to see what would be better. There is a price to pay when a management company handles this.
Investor · Palm Beach County, FL · Member since 2019 · 370 posts · 330 votes
5y
@Lev Platsman
Hey Lev! So I was in a similar position. I have a few out of state properties. On my last value add project I used remodel it which helped me get an estimate for what a new kitchen would cost and some decent contractors in the area
Real Estate Broker · Huntsville, AL · Member since 2019 · 1k+ posts · 872 votes
5y
Keep networking in the market of your choice with other investors. Eventually you'll make friends with one of these investors and he/she will lend you some contacts! Likewise you can ask agents!
Baltimore County, MD · Member since 2018 · 19 posts · 5 votes
5y
Hey Lev -
Regarding your question, do you have a specific project in mind or are you asking about the model of using a contractor in lieu of a property manager?
I regularly identify, negotiate and manage contractors for residential projects across the US. I do the entire process remotely. What area are you in? I may have some contractors or insight on that area.