Getting Quotes

8 Replies

Hi everyone, I am a newbie in house flipping. I am wondering if I can have 3-4 contractors to go to the properties at the same time to see and give me an estimate or quote or I should schedule with them one on one. I have a full time job plus 2 little kids, so time is a bit tight. The house just closed today. I need to get it start rehab asap. Thank you in advance for your input.

First off, you should have gotten quotes for all the items BEFORE you closed escrow, why waste all that time! Secondly, I don't think it is appropriate to have multiple people there quoting the same job at the same time. How can you possibly give each person the one on one time to explain what you want, what you need, and when you need it. I have no problems letting them know they will be competing with another contractor or two, but having them all there at once is too cumbersome and if i were the contractor, would consider it rude.

If you have a full time job, I suggest you get a project manager on your team who can be there with all the contractors and sub contractors making sure all is being done right, done on time, and done in the proper order. Time is your enemy on a flip so make sure you save as much time as possible, they often means spending extra on a project manager if that can not be YOU. That extra costs will likely save you money over the entire flip if the project manager is good enough.

Being a contractor, I consider it tacky when people do that... so tacky that I will, in fact, turn on my heel and leave. 

I may see things that the other contractors wouldn't. I may have solutions that they don't. I may not feel like sharing those things with the other contractors - only with the client. Or I may have a dramatically different approach to the project that I'd like some of your undivided attention to tell you about.

Thank you William and Aaron for your advice. I totally agree with you I should have the quote beforehand. 

Aly

First off @Aly Thompson , welcome to BP.

Make individual appointments with the contractors and in general if you can't be present at the flips on a daily basis, not all day but enough to make your presence felt so work progresses, then take @Will Barnard 's advice and hire a PM. It will save you money in the long run.

Originally posted by @Will Barnard :

First off, you should have gotten quotes for all the items BEFORE you closed escrow, why waste all that time! Secondly, I don't think it is appropriate to have multiple people there quoting the same job at the same time. How can you possibly give each person the one on one time to explain what you want, what you need, and when you need it. I have no problems letting them know they will be competing with another contractor or two, but having them all there at once is too cumbersome and if i were the contractor, would consider it rude.

If you have a full time job, I suggest you get a project manager on your team who can be there with all the contractors and sub contractors making sure all is being done right, done on time, and done in the proper order. Time is your enemy on a flip so make sure you save as much time as possible, they often means spending extra on a project manager if that can not be YOU. That extra costs will likely save you money over the entire flip if the project manager is good enough.

 On my experience, I walk with about 15-30 contractors each bidding, its normal for me. I am ok with bidding with others, in fact, I prefer to get informed, it is not going to change my bid anyway, it will however scale me if the next time they call I would decline or go. The having one walk with multiple contractors is, the owner will not have to repeat himself, have an apples to apples bid instead of changing scope or scope creep issue -- this is common if the owner does not even know what he needs --, another is that one contractor might ask a question that is an important scope and the owner might not see it, voicing that question might improve everything. The scenario above is a government/commercial project setting, not residential.

Originally posted by @Manolo D. :
Originally posted by @Will Barnard:

First off, you should have gotten quotes for all the items BEFORE you closed escrow, why waste all that time! Secondly, I don't think it is appropriate to have multiple people there quoting the same job at the same time. How can you possibly give each person the one on one time to explain what you want, what you need, and when you need it. I have no problems letting them know they will be competing with another contractor or two, but having them all there at once is too cumbersome and if i were the contractor, would consider it rude.

If you have a full time job, I suggest you get a project manager on your team who can be there with all the contractors and sub contractors making sure all is being done right, done on time, and done in the proper order. Time is your enemy on a flip so make sure you save as much time as possible, they often means spending extra on a project manager if that can not be YOU. That extra costs will likely save you money over the entire flip if the project manager is good enough.

 On my experience, I walk with about 15-30 contractors each bidding, its normal for me. I am ok with bidding with others, in fact, I prefer to get informed, it is not going to change my bid anyway, it will however scale me if the next time they call I would decline or go. The having one walk with multiple contractors is, the owner will not have to repeat himself, have an apples to apples bid instead of changing scope or scope creep issue -- this is common if the owner does not even know what he needs --, another is that one contractor might ask a question that is an important scope and the owner might not see it, voicing that question might improve everything. The scenario above is a government/commercial project setting, not residential.

 I'm not sure why you even posted this given the last line in your statement. This entire conversation have nothing to do with commercial or government jobs and everything to do with residential, thus, the advice in this instance is not applicable.

As a contractor and investor my advice is to do a one on one with the contractors. Most contractors don't get paid for the time we spend on meeting the customer and working up the quotes. In addition you get a better feel of the contractor and his abilities and suggestions that he may have for the work you need. Whether I get the job or not I try to give good sound advice to the customer just to help. Good luck

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