How to approach contractor hires when flipping

Question

Aaron K. · Answer

Yes be honest, contractors are not stupid, nobody rehabs a trashed house just for kicks with no hope of either getting a deal or making a profit.

Spence Kal · Answer

For all those who contributed I thought I’d give an update, I took your advice and told the latest contractor I had do something that I was flipping the house. It turns out he also flips houses and has owned rentals which he has sold. he also introduced me to other contractors and we might eventually go in on a flip together! Very exciting news for me starting out because I’ve been struggling a lot to find people to do things I can’t or don’t have time to do, and others to learn from. Thought I’d let you guys know because it turned out so great and really encouraged me to keep going

Jeremy England · Answer

Why wouldn't you want them knowing?  Seems to me a contractor is more likely to offere you preferred pricing if he believes he will get repeat business.

Ofcourse that probably isnt' true for your first project.  But going down the road,

Maurice D. · Answer

be upfront.  sometimes they can make more meaningful/cost saving recomendations if the know its a rental for example.  you evaluate their bids, do let them know you are getting other bids..

Teri Feeney Styers · Answer

@Spence Kal I always tell them what I'm up to - I also post a sign in front of the property letting the whole neighborhood know what I am doing (and have found buyers via that sign). Good vendors can help you with cost savings approaches and repeat business is important to them.

Matthew Paul · Answer

Be honest with the contractor and they will be honest with you .

Roy Moses · Answer

I also think you should be honest, building a good relationship with these guys early on will be great for you if you plan on doing more work with them later on and getting better prices and so on..

Timothy Young · Answer

Awesome news.  Thanks for the update!

Grant Rothenburger · Answer

@Spence Kal Tell the truth. A good contractor will do his job regardless of what your plans are. Especially since a good contractor realizes the potential for repeat business. Unfortunately unless you have some good recommendations, you may have to go through some bad ones first to find a good one.

How to approach contractor hires when flipping

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