Over Paying a Contractor during a pending sale

[Amir B.]

Hello Everyone,

I wondered how other investors have dealt with being taken advantage of or overpaying for real estate services.

I appreciate any help you can provide.

Amir

[Matthew Irish-Jones]

@Amir B. I am a contractor and use subs all the time. Contracting work is notorious for having quotes all over the place.

I just got two drywall quotes, one for $8500 and one for $22,000. I went with the $22,000 one. The material cost alone for the job was $6,000, and it’s a 3-4 week job. I knew the guy with the higher price was reputable and trusted he would get the job done on time and correctly.

My company is usually on the high side for price. We have top notch insurance, quality tools, and all of our people are on our payroll. We also have software systems that allow for daily work log updates on the jobs and owner portals. We get the job done on time, on budget, and fix any issues. We get under bid all the time and end up getting half the jobs back after they low priced guy didn’t show up, couldn’t do the work, or ended up being a crook.

Just because you got a lower bid does not mean you overpaid. Bid’s are worth the paper they are written on, quality, timely work is worth the price.

Sounds like you got quality, timely, headache free work, you should be happy.