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Updated about 4 years ago on . Most recent reply

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Bassim Audi
  • Chicago, IL
4
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9
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Looking for General Contractor in Indianapolis

Bassim Audi
  • Chicago, IL
Posted

Hello All, 

My business partner and I are starting to work into the Indianapolis area. We have our first SFH under contract near speedway. We plan to scale quickly and aggressively. I am looking for some recommended General contractors that understand the BRRRR strategy and can work within budgets, understand timelines and also make insightful suggestions to add value during a walk through. Any recommendations are appreciated, if you are a GC that fits the bill please reach out to me directly.

Thank you in advance. 

Most Popular Reply

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Thomas Franklin
  • Real Estate Investor
  • Miami, FL
737
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931
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Thomas Franklin
  • Real Estate Investor
  • Miami, FL
Replied

@Bassim Audi I suggest that you interview, at least three General Contractor and ask the following questions. In addition, I strongly recommend that you verify all licenses and Insurance Policies.

1. How many homes have you rehabbed and/ or renovated? What was the magnitude, of your projects?

2. How many projects is your company currently undertaking?

3. Do you work with Investors that need to adhere to strict timelines and scope of work?

4. Do you have multiple Sub Contractors, for similar trade skills, such as plumbers, electricians, flooring crews, painters, etc.?

5. Would you be willing to provide a copy of your GC License, your Certificate of General Liability Insurance, and your Certificate of Workman's Compensation Insurance?

6. Are you bonded?

NOTE:

To be “bonded” means the Contractor must purchase a Surety Bond, which serves as a form of Insurance to protect the Contractor’s Customers if he or she fails to complete the job properly or fails to pay for permits, subcontractors, or other financial obligations.

7. Are all of your Sub Contractors Licensed and have Workman's Compensation Insurance? Would your Sub Contractors be willing to provide such information, or would you be willing to sign a waiver stating "All your Sub Contractors have Workman's Compensation Insurance?"

8. Do your Sub Contractors have the ability to verbally communicate, with English Language Only Speakers?

9. Do you pull all necessary permits?

10. Do you provide a written warranty, for all labor? If so, what is the length, of the warranty? (a minimum of 1 year)

11. Do you provide all applicable warranties, for materials?

12. Who is in charge of the job site, to ensure timelines are met and the Scope of Work is properly completed?

13. How do you handle dirty work such as debris disposal and clean up?

14. Would you be willing to receive four draw payments that would correspond to four phases of the rehab project?

15. Would you provide references, from past clients?

  • Thomas Franklin
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