If you are a real estate investor, you will have to deal with contractors on a frequent basis. This is because these contractors are required not just during rehabs but also for regular repair and maintenance of a property. Investors know that something is breaking or needs rehab almost on a daily basis and if you do not have your team of plumbers, electricians, HVAC specialists, and general contractor, you cannot become successful in the world of real estate investing.
For someone who is new to this business, hiring a contractor is a very challenging task. This is because it is difficult to have belief on the abilities of a contractor. You are fearful that he may rip you or provide inferior quality services. However, you have to make a start somewhere.
You will require all sorts of contractors as an investor to carry out rehab and repairs in your properties. Skills and experience are no doubt very important but you also want people who are honest and reliable. Your only aim is to get the job at hand done and done in an impeccable manner. You also want the job to be completed in a specified time period as delays can be costly for your business. Here are some ways using which you can find good contractors who are also reliable and honest.
Ask other investors in your network
You must have many landlords and investors in your network. Ask them about good quality contractors as they also utilize their services frequently.
Owners of stores selling supplies for construction know about many contractors as they come there for purchased of materials. You will easily get contact details of popular and reputable contractors in these stores. You will also come across employees working under contractors in these stores.
Ask your friends and family members
It may seem odd but your friends and family members often have contact details of some very good quality contractors whose services they have utilized in the past. If they liked the service and the charges, they will definitely help in finding good contractors.
Ask for a quote from several contractors
If you invite quotes, you will come across many interested contractors. Listen to their views and how they propose to carry out your job. This will give you an idea about their sincerity and devotion to the job.
Ask for references
Shortlist several contractors from your own sources and ask these contractors to give references. If they are experienced and have satisfied clients, they will easily come up with references that you can confirm.
Internet can be a wonderful source of good quality contractors. Their reputation and popularity speaks for their quality of work. You will find comments and opinions from their clients on different forums and websites like Angie's List to shortlist contractors for your projects.
When looking for contractors, never fall to the tricks of contractors who give you the lowest quotes. You believe your rehab will be carried out in small amount of money, but you realize your folly later on when you see the quality of work and the tantrums thrown by these contractors. Cheapest is not always the best choice for you.
Do not work with contractors who are rude or do not respond to your calls and messages. It is important to work with contractors with whom you can develop a rapport. On the end, finding good contractors is like trial and error. You know a contractor is good or bad only after working with him on a project. You can keep rejecting bad quality contractors and keep adding good ones to repeat them for your future projects.
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