Wait time for hiring contractors?

Question

Hi all,

One of my buyers I'm representing as an agent is concerned with buying a property that requires some rehab ONLY because a friend of his bought a property in the Adirondacks region and says he won't be able to hire a contractor for repairs for a year and a half due to their long backlogs of work.

Has anyone heard of this long wait time for contractors in the Hudson Valley? I've been looking with my client specifically in Kingston, but he is now pretty cautious about his original plan to BRRRR a property.

Thanks everyone!

Michael Noto · Answer

The bigger issue I see is one passing conversation with a friend has your client ready to blow up his entire investing plan. Tough spot to be in as an agent.

Joe Edwards · Answer

@Chris Mooney

Hey Chris I'm a GC located in Northern NJ and I work the lower Hudson Valley area i.e Tuxedo,  Sloatsburg and I have been getting large uptick of clients wanting projects done further up north in the valley and they can find available companies to execute the work.

For us personally I have to decline these opportunities because our work pool is pretty robust so there is no need to take on the traveling as well as the limited logistics further up that way.

I believe the shortage may be do to COVID hitting and many people from NYC purchasing all throughout the Tristate.

Best of luck with you and your client on closing this deal finding a contractor

Frank Hinck · Answer

@Chris Mooney

Doubtful every contractor is 12-18 months out.  I’d do the old J Scott “Home Depot at 6am and talk to the contractors there.” Or go on the Local BP forum and find other local investors and ask for referrals.   In a hot market GCs aren’t taking on work they don’t want to take, but there’s room in their schedules for solid referrals.

Jennifer Hoover · Answer

This is a smidge reductive. Good contractors DO go to box stores, especially in CNY, Upstate, and the Adirondacks, where options and supply chains are less than metro areas. The OP is asking about CNY and Upstate. It looks like you're maybe commenting from a very different market in New Hampshire. Places like Lowe's have their Pro Desk, and it's busy every day that I go there with my fellow local contractors. I do agree hanging out at a box store looking for referrals early in the morning as was suggested is a really poor way to get a contractor. However, my Pro Desk liason at Lowe's has referred me to subcontractors many times, and has an extensive network of them (and knows who does a good job, skimps, etc). Obviously I prefer to support local over Lowe's or HDepot. But don't count out the box stores as a resource or think that "good contractors do not go to them". We do, and the Pro Desk folks usually know all of us by name.

Chris Mooney · Answer

@Rich Ramjatan thanks for this input! I've experienced a shortage of good plumbers here in Beacon first hand. But when he told me a year and a half, that was shocking! Seems like there is opportunity for good GCs like yourself to come upstate and fill a void!

Rich Ramjatan · Answer

@Chris Mooney

Could be some truth behind it . I know upstate has seen some movement in the housing market lately, and it could be contractors are busy . Upstate  doesn’t have a large pool of contractors , compared to an area like NYC where I am from . There’s always someone , that shouldn’t be reason not to get into the deal .

Edgar Martinez · Answer

Interesting. My father just got laid off. He’s been thinking about hanging up his own shingle for a while now. Might be the right time.

Ronald Starusnak · Answer

Most contractors worth their salt are indeed booked out for the foreseeable future. I have some subs in the Adirondack region that might be able to help a little quicker though. They're not good at the business end but their work is good.

Andy Meckel · Answer

I am a contractor and for the most part stop looking at work when i am 6 months out. it makes no sense for me to even look at a job i can't get to for 1.5 years. Something does not seem right. Go to your local lumber yard to find contractors not the big box stores. Good contractors do not go to them unless it is absolutely  necessary.big box stores are made for the dyi guys not the contractors.

Jennifer Hoover · Answer

There is a pretty significant issue upstate and CNY with contracting right now. My customers, clients, and even myself personally have had a harder time than normal with getting work completed or even bid on. I don't know about a year out, but definitely there seems to a backlog.

Wait time for hiring contractors?

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