A good contractor that you trust and that does good work is an essential part of your fix and flip business. Since you’re in a business that relies on fixing properties on a regular basis, developing a good working relationship with your contractor is key. It would be ideal if you can work with the same one repeatedly, so they know your style, your budget, and your timelines. How can you find a contractor that works for you?
Ask around of people you trust who they have used. A first-hand experience with a contractor goes a long way. Ask your real estate agent who they have worked with. They will know who has a good track record.
Compare bids, line by line
You didn’t buy the first house you saw that was for sale, so why would you hire the first person you talk to for a job? Research the companies you’re choosing from and compare their services and prices.
Meet with the contractors
Often, people decide on a plumber, for instance, by calling and finding out who is available and which ones might come out on a Saturday. Give yourself enough time to meet with the contractors and subcontractors you are considering. An in-person meeting will help you learn a great deal about their style and who’s giving you a realistic estimate.
Ask about their communication method and style
Five different contractors might all have similar excellent references and experience. But when it comes to communication style, one could be clearly set apart from the other. Ask yourself how you like to communicate and compare that with the contractors you are considering. If you’re a phone call person, make sure the contractor is too. If you’re into texting and Skype calls when you can’t physically be on the property, find a contractor who is tech-savvy enough to be able to handle communicating with you with images and visuals remotely. If you’re the kind of person who wants hourly updates, you’ll be disappointed and frustrated if you get a contractor who doesn’t communicate until the end of the day when the job is done.