DFW general contractors

[Christopher Castillo]

Hello, everyone 

My business partner and I are new to REI and and still learning. Just wanted to know what are good ways to find realiable contractors for fix and flips?

[Jennifer Volek]

I know of a great contractor, you can message me for his info if you like

[Lucia Rushton]

@Christopher Castillo by word of mouth. Referrals are huge. DM and let me know what you are looking for and I can give you some recommendations.

[Mark Williams]

Quote from @Christopher Castillo:

Hello, everyone 

My business partner and I are new to REI and and still learning. Just wanted to know what are good ways to find realiable contractors for fix and flips?

Hi Christopher, 

It's great that you and your business partner are venturing into real estate investment, specifically, fix and flip properties. When it comes to finding reliable contractors, it's essential to understand the distinction between a general contractor and subcontractors in the context of your project.

A general contractor typically oversees the entire construction project, from start to finish. They are responsible for coordinating all aspects of the work, including hiring subcontractors for specialized tasks like plumbing, electrical, or roofing. If you hire a general contractor, they will manage the entire project, ensuring that it stays on schedule and within budget. This can be a convenient option if you prefer a more hands-off approach.

On the other hand, if you decide to act as your own general contractor, you'll be directly hiring subcontractors for various tasks. While this can save costs, it also means you'll need to oversee the project's coordination and scheduling, ensuring that subcontractors work together smoothly. It's a more involved role, but it gives you greater control over the project.

Regardless of your choice, it's crucial to work with licensed, insured, and experienced professionals who understand local building codes and permit requirements. Ensuring that all work is done to code and obtaining the necessary permits is essential to avoid potential legal and safety issues down the road.

To find reliable contractors or subcontractors, consider asking for recommendations from fellow investors, real estate agents, or local real estate investment associations. Always check references, review past projects, and obtain multiple quotes to make informed decisions. Building a trustworthy team of contractors is a significant step toward successful fix and flip projects in real estate investment. Hope this helps:) 

-Mark 

[Christopher Castillo]

Quote from @Jennifer Volek:

I know of a great contractor, you can message me for his info if you like

Thanks you Jennifer 

[Josue De Hoyos]

I would say start with a budget and get  in contact with a good and reliable general contractor. Try to speak there language and understand pricing and manual labor. Find a good realtor that knows the area. I am a realtor and general contractor and I have seen lots of crazy jobs and some good ones.

[Thomas Franklin]

@Christopher Castillo I suggest that you use a General Contractor, for your renovations. I would interview, at least three and ask the following questions. In addition, I strongly recommend that you verify all licenses and Insurance Policies.

1. How many homes have you rehabbed and/ or renovated? What was the magnitude, of your projects?

2. How many projects is your company currently undertaking?

3. Do you work with Investors that need to adhere to strict timelines and scope of work?

4. Do you have multiple Sub Contractors, for similar trade skills, such as plumbers, electricians, flooring crews, painters, etc.?

5. Would you be willing to provide a copy of your GC License, your Certificate of General Liability Insurance, and your Certificate of Workman's Compensation Insurance?

6. Are you bonded?

NOTE:

To be “bonded” means the Contractor must purchase a Surety Bond, which serves as a form of Insurance to protect the Contractor’s Customers if he or she fails to complete the job properly or fails to pay for permits, subcontractors, or other financial obligations.

7. Are all of your Sub Contractors Licensed and have Workman's Compensation Insurance? Would your Sub Contractors be willing to provide such information, or would you be willing to sign a waiver stating "All your Sub Contractors have Workman's Compensation Insurance?"

8. Do your Sub Contractors have the ability to verbally communicate, with English Language Only Speakers?

9. Do you pull all necessary permits?

10. Do you provide a written warranty, for all labor? If so, what is the length, of the warranty? (a minimum of 1 year)

11. Do you provide all applicable warranties, for materials?

12. Who is in charge of the job site, to ensure timelines are met and the Scope of Work is properly completed?

13. How do you handle dirty work such as debris disposal and clean up?

14. Would you be willing to receive four draw payments that would correspond to four phases of the rehab project?

15. Would you provide references, from past clients?