Finding a Contractor

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Finding a Contractor

Eli Roerden
Member since 2026 · 2 posts · 0 votes

Hey everybody, I'm planning on buying several light value add resi deals in the Syracuse area. I went to school there, and am currently based in NYC. I'm a CRE broker, and don't plan on using a realtor to represent me to keep costs down, but what I need is a local contractor who can walk the properties and give me a renovation budget I can use in my underwriting. I'd obviously compensate them for their time, and then use them on anything I buy. Has anyone set up a similar structure? If so, how did you go about finding somebody trustworthy? And any advice for someone in my position?

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  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    2mo

    My go to GC charges $250 for the bid. That is credited towards the work if you go forward. I would network locally and through social media (like FB groups) to find solid GCs. Meet them, look at past work and maybe tour a project they are currently doing. 

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  • Jeff Roth
    Real Estate Consultant · Ann Arbor, MI · Member since 2022 · 466 posts · 257 votes
    2mo

    Hi Ed from New York City-

    You plan to invest in several value-add properties out-of-area and would like a trustworthy contractor to go through and give you a renovation budget and asked how to find a good contractor.

    First, try to get a recommendation but keep in mind a contractor that was good in the past may not always be good, reliable, and trustworthy in the future but a recommendation can help. Try asking in community groups locally or Realtors there that represent the kind of properties you want to invest in.

    Talk to each but know some contractors talk a better game than they deliver consistently. Ask for proof of licensing and insurance and consider getting bonded with them in case something happens during the job you have an insurer in place to protect you. Ask for references and work samples with before and after pictures if they have them.

    Initially, I would get three bids and you may want to consider keeping that policy moving forward. Finally, do not give them more than necessary to prepare a bid or start work.

    To Your Success!

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  • Vijay FriedmanBusiness Member
    Miami, FL · Member since 2026 · 766 posts · 122 votes
    2mo
    Quote from @Eli Roerden:

    Hey everybody, I'm planning on buying several light value add resi deals in the Syracuse area. I went to school there, and am currently based in NYC. I'm a CRE broker, and don't plan on using a realtor to represent me to keep costs down, but what I need is a local contractor who can walk the properties and give me a renovation budget I can use in my underwriting. I'd obviously compensate them for their time, and then use them on anything I buy. Has anyone set up a similar structure? If so, how did you go about finding somebody trustworthy? And any advice for someone in my position?

    @Eli Roerden
    Having one contractor who can walk deals before you offer is probably more valuable than just finding someone for the first rehab. I’d ask local investors/property managers who they repeatedly use, then test the relationship on a walkthrough and written scope before relying on them across several acquisitions.

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