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Updated almost 3 years ago on . Most recent reply

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Justin Bailey
  • Rental Property Investor
  • Canton, OH
18
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30
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Finding reliable contractors

Justin Bailey
  • Rental Property Investor
  • Canton, OH
Posted

I have been presented a deal that needs a full gut job on the interior. This property is way below market value due to its condition, im looking for reliable contractors to work on this property, the plus side to this property is that it's small (642 sqft) The issue im running into is that do I look into larger contractor companies or smaller ones. If there is benefit for each one or do I bring in numerous contractors for different areas of the property. I also need it done quick so I can get my HELOC money back out of the deal as it's a variable rate and has gone up quite a bit. Any advise would be greatly appreciated.

PS normally I would do the work myself but I don't have the time to work on a full gut.

Most Popular Reply

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Steven Foster Wilson
  • Rental Property Investor
  • Columbus, OH
3,453
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Steven Foster Wilson
  • Rental Property Investor
  • Columbus, OH
Replied
Quote from @Justin Bailey:

I have been presented a deal that needs a full gut job on the interior. This property is way below market value due to its condition, im looking for reliable contractors to work on this property, the plus side to this property is that it's small (642 sqft) The issue im running into is that do I look into larger contractor companies or smaller ones. If there is benefit for each one or do I bring in numerous contractors for different areas of the property. I also need it done quick so I can get my HELOC money back out of the deal as it's a variable rate and has gone up quite a bit. Any advise would be greatly appreciated.

PS normally I would do the work myself but I don't have the time to work on a full gut.


 I always think I can do it cheaper and faster finding different people for each part of the job... I have learned that is not the case, you definitely save and have less headaches going with just one contractor. I have a rolodex of people here in Central Ohio that we use as contractors. I also will give the disclaimer, I always want my projects done fast but you have to expect it to be longer than you think. Something will always come up and you have to calculate for that extra time. 

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