There are many repairs and renovations you can make on a property that don’t typically require the assistance of a contractor.
However, if a project calls for a specific set of skills or equipment you don’t currently possess, hiring a contractor could be best for your business. Let’s explore the top five tips for finding the right contractor for your next flip.
Ask Around and Look at Reviews
Try asking around if anyone has worked with a specific contractor for their home projects in the past. You could talk with people in your neighborhood, friends, family, colleagues, etc. They will be able to tell you their experience with the contractor, project quality, and more.
Try looking online to see reviews and photos from a contractor’s past customers. It’s best to get a well-rounded overview of someone’s experience and reputation before working with them to ensure you get the best contractor possible.
Check Their License and Qualifications
Although it may seem obvious to make sure your contractor is licensed, not many people think to ask for physical proof of it. People tend to view this part as offensive to the contractor, but they should understand that it’s not personal—it’s okay to ask for verification of their claims. Be sure to check with your state’s licensing board to ensure the contractor’s license is accurate and current.
As a house flipper, you must ensure the home is safe for people to buy, and this includes making sure your contractors are licensed and insured.
View it Like an Interview
When talking with a potential contractor, try to view it as a formal job interview. You’re gathering information about their expertise to determine if they’re suitable for your project.
This includes keeping an eye on behaviors right from the start; can they answer your questions clearly, or do they skirt around them? Are they on time for your appointment?
Interviewing your contractor before the start of a project is essential in each renovation you complete because the quality of the project relies on who you choose to work with.
Take Your Time
Even though the real estate industry can be very time-sensitive, it’s crucial to take your time when deciding between contractors. Often, house flippers hire the first contractor they interview and pay for it later because they were in a rush.
Pace out the interviews, ask detailed questions, and take it slow as you go through potential contractors. You could end up working with them on your future property flips if you choose the right one.
Focus on Budget
There are many factors to consider when finding a potential contractor for your flip, including one that could affect everything, including your budget and how much you can afford to pay them.
Some contractors offer their services at a flat fee, while others change their prices with each project depending on the length, service, and tools needed.
If you need more than you have, try applying for hard money flip loans, as these can help you finance what you need throughout your flip.
These five tips for finding the right contractor for your next flip will help you save time and money and produce a high-quality flip.