When fixing and flipping properties, veteran rehabbers and real estate investors recommend hiring contractors. According to them, even if you have an extensive background on construction and home improvement projects, it would be wise to obtain professional help because it can make your job easier. In addition, you can get to finish your project faster and sell the rehabbed property ahead of schedule.
However, you should be careful when enlisting the services of contractors. It is no secret that some of these people are not capable of doing a good job and there are lots of rehabbers who can share horror stories involving such contractors. Thus, to help you out, here are certain types of contractors that you should avoid:
- Those who make too many promises. Stay away from contractors who talk too much but can’t back their words up with actions. According certain veterans in the rehabbing business, if a contractor makes a slew of promises even before the project has yet to start, there is a high probability that that person is just jerking your chain.
- Those who ask for money up front. Avoid hiring contractors who demand initial payment. These people are likely to bail out on you the moment you give in to their demand. When fixing and flipping properties, therefore, you must stay away from contractors who ask for money even before the project starts.
- Those who refuse to follow the rehab blueprint. While it is okay to listen to the suggestions of your contractor from time to time, you still need to keep in mind that you’re the boss. If your contractor insists on doing things his way and starts showing a complete disregard of the rehab plans and work schedule, it is time for you to find another contractor who’s capable of giving good suggestions but still listens to your instructions.
- Those who take too much of their sweet time to complete a rehab project. Always remember that time is of utmost importance in the real estate investing business. If your contractor is taking too much time to finish the paint job or fix the roof, you should consider finding a replacement. The main point of hiring a contractor is to ensure that the repairs are finished on time and if you’re going to hire a slowpoke to get the job done, then you will miss a lot of opportunities to make money.
Want to get more tips on fixing and flipping properties? Go to www.RehabList.com.