When you start working to fix flip homes and put them on the market, you’ll want to find yourself a reliable and competent Concrete Contractor Burbank CA. Many investors neglect this essential before jumping into the house flipping business.
Picking the wrong contractor can result in a loss of income, or profits, especially in the case of wholesaling. You can save yourself a lot of hassle, money and time by following these house flipping basics to finding yourself a great contractor for those real estate wholesaling jobs.
· Pay the Contractor Per Project
It’s best to avoid paying by the hour when hiring that contractor to fix flip homes. You may think you are getting a great deal when a contractor says a project can be done in so many hours, but that’s really just an estimate. You’d be surprised how quickly those man hours add up when the project gets started.
Be sure to pay a flat rate for the entire project with the contractor. This also works well in getting a project done quickly. The contractor won’t take their time completing a project if they know they’ll get the same rate no matter what.
· Take Your Time
It’s not a good idea to be rushed when looking for a contractor. Call around when you decide to invest in wholesaling properties or fix flip homes. Hopefully, you’ll start looking at contractors before you actually have a lot of homes to start flipping. It’s best to speak with a few contractors to get an idea of their experience, prices and what services they offer.
So, when you get a real emergency on hand you can just flip through your contacts and give one a call.
· Make Sure Your Contractor is Licensed
Ask about a license! It’s illegal in most states for contractors to work without a license. You are less likely to get scammed by asking the contractor if he or she is properly licensed to do the job. Get a good look at their general contracting license before hiring them, either a photo copy or the real deal. You can confirm the license with your state’s Secretary of State website or office.
· Don’t Just Take the Lowest Offer
Sure, you have to keep an eye on the budget when you fix flip homes, but don’t automatically pick the contractor with the lowest offer. If most of your estimates fall within a close range and then there’s one contractor offering a drastically reduced price there is a reason.
This contractor may have something of a reputation in the area for bad work and is having a hard time getting jobs because of it. Or the contractor may be inexperienced and really has no idea how involved the work will be on your house flip.
House flipping is about taking old cheaper houses and selling them after fixing them up. Sometimes you fix them up just a little or you invest a lot in them. No matter how involved the work, it should be completed properly. So don’t automatically pick the lowest bid.