Summary
In this video you will learn how to find and locate investor friendly contractors, how to qualify contractors and how to work with a contractor. Implement these 3 steps in your house flipping business, so you can minimize the headaches.
How to Find Contractors
To find contractors for your rehab projects you can do the following 1) post ads in craigslist, 2) reach out to active Realtors that are investor friendly, 3) contact active investors renovating properties in your local clubs, 4) drive around neighborhoods undergoing rehabs and gather general contractor information in projects you find.
How to Qualify Contractors
Before you start the rehab project, make sure to do the following, 1) ask for proof of insurance, 2) Ask for references, 3)Visit Current projects, 4) Ask questions about repair costs to test their knowledge
How to work with a contractor of your choice
Now, you have the contractor that will be working in your project. Follow these steps and make sure both parties agree before they can start the work: 1)have a written, 2) contractor must provide scope or work and milestones, 3)Don’t Pay money at front to contractor, pay upon completion of milestone, 4) Hold 10% until all touch ups are done
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