Rental Property Investor · Mechanicsburg, PA · Member since 2017 · 18 posts · 3 votes
Question- anyone ever hold a “contractor” open house (so to speak)? I’m thinking of inviting multiple contractors to a flip property to walk everyone through at the same time. As well as explain same scope to everyone. Seems like it could be efficient and make sure everyone is bidding the same. And maybe create some competition for better pricing. Anyone see any drawbacks to this approach?
Thanks all!
Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
8y
This is something that I used to recommend doing, back when the market was better for investors (and worse for contractors). Basically, back in 2008-2013, investors had a lot more leverage when it came to hiring contractors than they do now, and any investor who tried to do this would likely find that they were alienating potential contractors and this strategy would backfire.
Long story short, in a hot market, this won't work well. When the market changes and investors have the upper-hand again, I like this method of finding contractors.