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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 2 years ago on . Most recent reply

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Alex Ng
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How to work with contractors

Alex Ng
Posted

I'm looking to BRRRR my first property. Its a FSBO who is willing to sell to me. I plan to take a look at the property before choosing to purchase it. Should I schedule the contractor and run a scope of work and get a bid the day I look at the property? Or should I first look at the property and then get it under contract before having the contractor look at it? I live about 2.5 hrs away so it could be a pain to drive there twice, once to look at it and another time to meet with contractors. Should I schedule 3 contractors to come the same day? How should I organize this.

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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied
Quote from @Alex Ng:
Quote from @Bruce Woodruff:

I would do it like this: Make your offer, get under contract, then hire a Home Inspector to do a thorough inspection. Use his report to get a couple bids from GCs. Of course add any additional work you wish to do like bath or kitchen remodels.....


 would it be better to just have the contractor take a look through the property instead of an inspector since they would also know what needs to be fixed and be the ones fixing.


Absolutely not! A GC does not have the training to pick out all of the issues that a good Home Inspector will. I have done both and there is a huge difference. That's why we have Home Inspectors. The average General Contractor is not someone you want to have inspecting your house..... :-)

Just make sure you get a good one, the best also have a GC license or often an Engineers license.

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