Albrightsville, PA · Member since 2018 · 118 posts · 79 votes
I am blown away by what I discovered here on BiggerPockets. The amount of info, enthusiasm and sense of community is overwhelming to me. I am addicted to the podcast. I am annoying everyone with my excitement for what I've found. I am looking to Brrrrr my to retirement along with a few flips. I just need to get into gear and go. I started putting a team together as i have found a realtor that understands what I want to do and is working hard to help me find other pieces of the team. I am concerned about the contractor part of the team and would love any referrals. Any other help would be greatly appreciated. Thanks in advance.
Real Estate Agent · Allentown, PA · Member since 2016 · 197 posts · 181 votes
8y
Shane, good luck! Finding a good contractor in my opinion is the biggest challenge for new investors. It's easy to find good contractors, but they will charge you an arm and a leg. It's easy to find someone willing to do the work cheap, but they don't always do it well.
My recommendation is to get at least three contractors to walk through a property with you. This will give you an opportunity to discuss rehab with them, get a feel for their style, and evaluate their professionalism. Before you meet them, have a written list of what you are looking for them to do. This will avoid the awkward moment when they ask what you want, and you say "umm... an investment property rehab?" and they just roll their eyes. It's even better if you have a standardized list of finishes picked out, this will save you a ton of time.
Jersey City, NJ · Member since 2016 · 61 posts · 44 votes
8y
Welcome Shane! Getting a realtor on your team is an important first step. If your agent specializes in investment properties, then he/she should have an ecosystem of investment related professionals that could help you out. I would first ask your agent for any contractor recommendations.
If you are using a property manager and found one already, then your property manager probably has a couple guys he/she works with. That is how I found my contractor.
Bedford, TX · Member since 2018 · 53 posts · 14 votes
8y
Hi @Shane Ward Welcome to the site! If you're new to Real Estate Investing, check out my blog if you have time. My goal is to write one new post a day for people getting started. I hope you find value in the content. Have a great day!
Albrightsville, PA · Member since 2018 · 118 posts · 79 votes
8y
Thank you guys for the advice and warm welcome.
My realtor had a contractor that he trusted but is now out of the business. I was thinking along those lines that you mentioned Raymond about getting a property manager to help with selecting a good contractor. David you are so right about what you get with contractors. I have dealt with them all my life and know exactly what you mean. Having moved to a new area I don't have a list of guys I would use for certain projects. I do have a contractor for a neighbor that I have used on my house who is very inexpensive and his work is good. He just is not as reliable as I need a contractor to be. I will be reaching out to property managers next week.
Albrightsville, PA · Member since 2018 · 118 posts · 79 votes
8y
Max, I will deffintly check out your blog. I am soaking up every once of knowledge I can get.
Guys, Finding BiggerPockets after what I went thru when the market crashed is like being lost on a long hot road, walking up hill, sweating and dying of thirst, not sure where you are going and out of nowhere someone pulls up and gives you a ride to the top of the hill. You look over the hill and see all the water, shade and prosperity you need. See in 2007 I opened a flooring and had a ton of new construction developments that I sold and installed to. 2008 hit and by 2009 all of the new construction had stopped. I believed so much that we would pull out of everything okay that I used all of my retirement money to get back on track. The business just wasn't there. Long story short, 2015 I took a w2 job and started looking into realestate after putting a nest egg together. And then I stumbled on BP and I am really excited to see where things go.