Contractors & Renovations:How do you find reliable contractors who don’t overcharge new investors, and what are some common rookie mistakes to avoid during the rehab process?

At least 50% of turnkeys are currently questionable.5+ years ago, values & rents were increasing, so it was easy for the turnkey flippers to deliver.Now, values are up, but not increasing that fast, same with rents.Turnkey flippers are getting their profits squeezed with:Higher purchase pricesHigher material costsHigher labor costsLonger holding periodsSo, many cut corners or prey on cash buyers to overcharge them, using hyped ROI numbers.Even the turnkey, build-to-rent investors are finding their properties are performing as expected.

Contractor: Finding contractors that don't cut corners and overcharge is EXTREMELY difficult.

Honestly, I think it has a lot to do with the insurance restoration industry over charging insurance companies for years...I was a storm chaser for a few years so I contributed to the problem...lol 

A lot of turnkey services in the city overcharge, although I dont think this is exclusive to MD or Baltimore 

Contractor: Finding contractors that don't cut corners and overcharge is EXTREMELY difficult.

This story while a success looks like you got over charged on points and rate. 

It is either cheap and will not last or they are over charging you for inferior product. 

If you don't have a trusted team OOS you can easily be overcharged or worse, your property vandalized or things stolen while vacant, etc. 

Including being affiliated with the same company they both funnel students to in order to overcharge them for services they don't need.