I'm in the process of building my "core four," and I'm wondering how other new investors have handled getting contractors to walk a property that you're considering making an offer on. In other words, if I had an existing relationship with a contractor it might not be much of an ask to see if they would go and estimate rehab costs for me - especially since they would be front-runners for the job, with our existing relationship. But as a new investor without that relationship, it seems more like asking a stranger a favor. I may not buy the property, and even if I do, I may not end up using them (and don't want to back myself into a corner by setting the expectation that I will definitely use them if I buy it, before even knowing what their price would be).
I would appreciate any advice, and especially appreciate input from contractors on how they see these kinds of requests from investors!
Elliot, pay for the walkthrough. That one move fixes the whole awkwardness. A good contractor's hour is worth money, and a new investor asking for a free estimate on a house he may never buy is asking for a favor — so do not ask for a favor. Offer a flat fee for an hour of his time, and be straight up front: you are pricing a possible purchase, nothing is promised, and if you close and his numbers hold, he is first in line for the work. Then limit what you ask him to verify — roof, HVAC, plumbing, electrical, structure. Price the cosmetics yourself off a standard finish package. You are buying his eyes on the big-ticket items, not a free line-item bid.
Elliot, pay for the walkthrough. That one move fixes the whole awkwardness. A good contractor's hour is worth money, and a new investor asking for a free estimate on a house he may never buy is asking for a favor — so do not ask for a favor. Offer a flat fee for an hour of his time, and be straight up front: you are pricing a possible purchase, nothing is promised, and if you close and his numbers hold, he is first in line for the work. Then limit what you ask him to verify — roof, HVAC, plumbing, electrical, structure. Price the cosmetics yourself off a standard finish package. You are buying his eyes on the big-ticket items, not a free line-item bid.
@James Jones is correct. You MUST pay for walk-throughs...until you have that relationship where he trusts you and will usually do this for no charge....
Just FYI, I do walk-throughs and charge $250 for the basic service, more with a written report and further consultations.
Elliot, paying for the walkthrough is the right move — it changes the whole dynamic from favor to professional engagement. A couple of additions from the transaction side: be upfront that you're pricing a potential purchase with no commitment, and ask him to focus on the big-ticket systems — roof, HVAC, plumbing, electrical, foundation — rather than a full line-item bid at this stage. Bring a simple scope sheet and take your own photos and measurements so you can price cosmetics yourself later. And if you close and his numbers hold, he gets first shot at the job — say that out loud, because good contractors prioritize clients who feed them real work. One more tip: your agent can often get you access for the walkthrough during the inspection window, so coordinate the timing together.
Pay for the walkthrough — everyone above is right, and I'll add the operator reason it's worth more than the report.
We find and test contractors months before we need them, in small paid steps. A paid walkthrough is the perfect first test: you're watching whether they show up on time, whether they communicate clearly, and whether the scope they hand you is usable or vague. A contractor who does a sharp paid walkthrough is telling you exactly how they'll run a turnover later.
One more thing: when the walkthrough goes well, keep using the same person for the actual work. Continuity is underrated — the contractor who walked it already knows the house, so your turnover starts on day one instead of day one being another walkthrough.
How we frame the ask: "We pay for walkthroughs, we pay fast, and the investor who buys this will need a full turnover crew." The good ones say yes to that all day.
What did your last walkthrough cost, and was it worth it?
Don't ask a stranger for a free pre-offer walkthrough — that's the fastest way to burn a contractor relationship before it starts. Pre-offer, use your agent's eyes plus rules of thumb: roof, water intrusion, electrical panel, HVAC age. Those four tell you 80% of the rehab story. Once you're under contract, hire the walkthrough: pay a flat fee for a line-item estimate. Contractors show up differently when they're paid. Long term, the goal is one go-to contractor you pay fast — that's what gets you honest numbers and priority scheduling on the next deal.