@Michelle LaRue have you ever tried thumbtack.com? Decent way to find contractors who are available in a pinch, as they generally only respond to your request if they are available for work, since each response costs them money. Flipped a whole house with it essentially
How did you find your property? Inventory seems to be a little tight especially in that area.
@David Hildebrandt brilliant! Thank you. I've actually used it several times but never once thought to use it here. Thanks again!!
@Thomas DeMoss LUCK!! Pure luck! My property manager lives across the street from the seller. The seller inherited the property in January after his mother passed. Unfortunately he is a heroin addict and just wanted cash super fast. We settled on $39,000 cash. His parents took excellent care of it but it is a 1970's house and needs cosmetic updates. Also clean up as he and his addict friends squatted there for several months. ARV is around $170K.
@David Hildebrandt How did you find their prices compared to your expectations? I know the assumption is that investor-grade work tends to be done much more cheaply than owner-occupant-grade work, and those sites always seems more geared to owner-occupants.
That said, if anyone has some direct experience in Chattanooga I'd love to hear who you worked with. I'm looking for someone who can estimate scopes of work for a few properties down there.
@David J Lepard its about negotiation at the end of the day. Based on the proposals, identify the contractor you want to work with (price not being a factor) i.e. if you feel the highest priced guy will do the best work, go after him. That helps ensure that the work will actually get completed and will be of quality. Then employ what you read in "Never Split the Difference" by Chris Voss to get them to the best price possible. Remember that with you they have the opportunity to do business more regularly than they do with a homeowner's one off project. Use that leverage to your advantage. Remember they paid Thumbtack to bid your job, they want work, which is exactly what you have to offer.
@David Hildebrandt good points all around. And I love that book.