Learn from my mistakes

[Nathan Harden]

I am an out of state investor that was handcuffed when picking a contractor. I bought a property to BRRRR, the next day it was broken into and stripped of everything. I was handcuffed to get this project started asap because the house now had the front door kicked in and a couple broken windows and I had the city code enforcement on my case so I panicked and I was only able to obtain 1 bid for this project and took it with no hesitation. The rehab took 3 months (was supposed to take 2). I have paid the contractor in full, $40,500 and I sent my property management out there to check the progress. They said it's about 60% finished. Naturally, I called the GC he then told me to take him to court.
Things I’ve learned (and still learning)

All contractors are not the same. 
Make sure to have PM check progress regularly, even if it’s a service call charge. 
Never pay in full until PM has given the thumbs up, not the contractor. 

Learn from my mistakes!

[Bob Stevens]

Quote from @Nathan Harden:

I am an out of state investor that was handcuffed when picking a contractor. I bought a property to BRRRR, the next day it was broken into and stripped of everything. I was handcuffed to get this project started asap because the house now had the front door kicked in and a couple broken windows and I had the city code enforcement on my case so I panicked and I was only able to obtain 1 bid for this project and took it with no hesitation. The rehab took 3 months (was supposed to take 2). I have paid the contractor in full, $40,500 and I sent my property management out there to check the progress. They said it's about 60% finished. Naturally, I called the GC he then told me to take him to court.
Things I’ve learned (and still learning)

All contractors are not the same. 
Make sure to have PM check progress regularly, even if it’s a service call charge. 
Never pay in full until PM has given the thumbs up, not the contractor. 

Learn from my mistakes!

 I have done  1ks and 1ks of  reno/repairs over the years ALL out of state. Its all about your team. NEVER do a deal without a trusted team. I live in FL and do all my business in Cleveland. I fly in twice a year, WARM season only.

All the best