When investing in real estate, it’s good to build a team that can help you make the right decisions and get the most out of your investment. One key asset of your team is a general contractor. The contractor can help you determine what renovation costs may be and guide you in the right direction when it comes to repairs or what to look for when looking at properties that need work. The key in this relationship is to find someone you can count and who also gives you a fair price.
Here are a few tips on how to find a general contractor that will be a great asset for you.
1. Do they show up when they say they will?
Contractors can be notorious for not showing up when they say they will. When managing an investment it’s important to have someone who is consistently reliable and on time. To test this, have the contractor meet you at the property you’re thinking about investing in and see if they show. And more importantly, at the time they say they will be there. If they pass the test do the same for a second property and make sure there is consistency before going forward.
2. Ask to see their previous work
You want a contractor with experience, so ask to see examples of any previous projects that they have worked on. If they photograph their work and can share it with you then it shows pride in what they do. Or if the contractor can show you some examples in person then it shows that they have maintained relationships with their clients and don’t have anything to hide.
3. Test them on a small job
A small job done in your own home is a great opportunity to test the contractor out. You want a contractor that will take on any job for you—not only large jobs—so it’s important that you can count on them for smaller jobs as well. If they do the job to your satisfaction, then it’s a good sign that they will do future jobs on other projects the right way for you as well.
4. Make sure they are licensed and insured
Even with the most experienced contractors, something can go wrong unexpectedly. To protect yourself from accepting responsibility if something does go south, you want to make sure that your contractor is protected. A licensed and insured contractor will go a long way during these times. More on this can be found here.
5. Make sure you get along with them
When finding a contractor, there’s an expectation that it will be a solid long-term relationship. You want to find someone that you not only get along with, but can also interpret your vision for any type of major renovations. The right match can be the difference between a satisfactory job and an excellent job.
Just like any relationship it takes trust and confidence from both parties so it’s important to consider all aspects when deciding on a general contractor. Do you have any tips on how to find the perfect contractor? Let us know in the comments below.
