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Updated about 1 year ago, 10/27/2023
Contractor DId Not Follow Through
I have a fix and flip project in which my previous contractor (who previously had been a rockstar) did partial work and has not followed through with his work. I regrettably paid him off (I know I shouldn't have!) and he keeps reassuring me that he will complete the work.
Trying to go through my options here:
- Sell the property as-is and offload to another investor looking to take on this project. My agent has told me that I essentially will be listing the property for what I had bought it for so I am at a loss due to the money I paid the contractor. I was really looking forward to this project as it would be my first fix and flip with good numbers. I usually BRRRR but wanted to generate income on the side.
- Find another contractor (that I will for sure vet better) to take on this project but I will need to find additional funding to get this going
- Sue my previous contractor. Not really sure how to go about this as I haven't sued anyone before but really am looking at this route to somehow recoup my rehab funds. I still contact him and he responds surprisingly.
Looking forward to the guidance of the BP community as I am sure I'm not the only one this has happened to.