About contractors....

Anyone have some input?

what they charge and then you go from there

If its a one time for an estimate they might charge you $150, sometimes less sometimes more

thanks.....yikes!i have 9 i want estimates on..... he didn't tell me what he wanted he asked me what i would pay. however, there may be more in the deal for him than just an estimate. that is what i will relay to him. he also asked if i would be interested in hiring him to do repairs. probably yes i would.

thanks again for the info.

linda

that's good info too!

thank you.

linda

I usually just wholesale, but I have a General Contractor that knows I am not using him, but just need his expertise , and he is fine with that. After we are done , I take him and to our favorite spot and buy him a fried flounder dinner. So just network and work it to fit both of you.
Check out your local REIA meetings and see who other Investors use. Hope this helps you

Curtis Fillers
(Charlotte,NC)

thanks....i am wholesaling these properties. i just need to get an estimate (professional)on costs before i present to my buyers.

linda

Make sure to go on site with the contractors. Ask questions about costs. Most will tell you everything you need to know. Pretty soon you will not need a contractor to do your wholesale estimates. Of course you will get extremely accurate rehab/remodel estimates when you do the fix/flip yourself!
I have found that most rehabbers will come up with a different rehab estimate than mine anyway. So you do not have to have a down to the drywall screw estimate when dealing with EXPERIENCED rehabber/cash buyers. Something close will work I have found. Saves a lot of time to be able to walk a property and say "This will take $40,000" and walk out, do your numbers and make an offer. The only way to gain this capability is to use contractors at first. Go on site with them, listen, learn and ask questions. Read their estimates carefully. Check out the before and afters on other investor properties, network, network!!
The whole time you are doing this you will be adding people to your team and buyers list!!

Linda, you are on the right track!! Tell those contractors if you get the offer you will refer them directly to your buyer. Until you do one yourself. At that time you will use them to do your properties.

Oh Boy!! E mail me if you have questions on dealing with contractors.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Hi Linda some give free estimates but it would be nice to thank them in some way, cant have to many Networks, happy investing and wishing you the very best, Jim

Well banks normally pay Realtors around $60.00 to do a BPO on a property if you are going to ask contractors to do multiple estimates I would say a $25-$40 a good contractor should take about 30 minutes to view a property and get the info on what work needs to be done. Prepare an estimate for you by next day, hope this help.

Nunzio

all for your valuable input.
Very much appreciated.

Regards,

Linda

I'm also just doing wholesaling. I'm going to look at some properties next week with my rea. Probably 4. I'm in the process of getting a contractor. How many houses will they look at in a day? I don't want to push them too much. I also need them to do it for free.
Thanks.
-Teresa