Just getting started on first Rehab

3 Replies

I just purchased my first home in Lincoln Heights.  I'm really excited, because it took me a long time to find a property and I think the property has great potential based on it's size, street, and neighborhood.  

It's a fixer, triplex needing a substantial amount of work (plumbing, electric, flooring, siding, landscaping).  I'm only in the first week of searching for contractors, but I'm getting frustratingly high bids so far.  I still have plenty more to explore, but am I just going to be treading water if I keep looking for contractors through online sources (yelp, homeadvisor) that won't blow my budget?

@David Eiges

People on those sites generally have high marketing costs that they will pass onto you.  

My favorite way to find contractors is to walk the neighborhood where your property is and visit the properties being rehabbed there and talk to those contractors.

Hi David, I'm also a consider myself as a new investor even though I start since 2009. Anyways that's a long story. By now I'm assuming you were able to get a contractor. Would you care to show your numbers on the triplex and how the units are turning out?