7 Stages to a Real Estate Rehab: Step 3 – Hire the Contractor
September 23, 2020
Your contractor will either make your rehab project easy or hard. It’s important you take your time in picking the contractor you’ll share your real estate rehab deal with.
You can find contractors via your investor network, websites, job boards, your local building department, supply houses, or local real estate associations.
The first step is to create a professional document that helps market yourself to potential contractors. This includes background about yourself, your goals (would they be able to work with you in the future again?), the kind of relationship they can expect from working with you, and what you’re looking for in a contractor. If possible, include how you handled previous projects (e.g. pay schedules, the scope of work, etc.).
These details help build trust and establish your reputation as a trusted real estate rehabber. Make sure your pitch makes you appear as a viable business partner, not just for this project, but for future ones as well.
Pre-screening interviews can help you gauge a contractor’s suitability. A few questions to ask include:
- Years of experience
- Equipment they own
- Workers in the team
- Licenses and permits
- Insurances
- Any subcontractors
- Any bankruptcies
- Willingness to provide future referrals
After pre-screening, invite them to send in bids for your project. Then, evaluate each bid you receive. (And pick a winner!)
Lava Integrity Group, LLC is a San Francisco East Bay Area residential redevelopment company. We focus primarily in Oakland, CA and Concord, CA. Our team is highly motivated, knowledgeable, ethical, and resourceful. Qualified to handle any real estate transaction, our dedicated staff is committed to helping people with their real estate needs and making successful deals happen. Our team of professionals has the integrity to follow up on our promises, and the expertise to navigate any transaction to ensure you’re fully informed for making the best decision possible.
When we work directly with a home seller, what we provide can not only make for a smooth transaction, but it can also add up to thousands upon thousands of dollars in savings as compared to selling a home through traditional means. With the ability to directly purchase homes and make cash offers, we can create extremely fast and hassle-free transactions.
There are many creative ways to help you out of any situation. We pride ourselves on our reputation for working one-on-one with each customer to handle each individual situation; and it’s our goal to make each client feel like we achieved a WIN-WIN scenario.
We’d love to learn about your situation and see how we can help. Call (510) 900-4090 or email ([email protected]) us to get a no-obligation offer on your home!
Follow us on Facebook, Instagram, and Twitter to stay updated on our latest projects!
— see article here: https://www.fortunebuilders.com/real-estate-rehab/