Seeking Good General Contractors in Davenport Iowa

[Jared Stroebele]

I am looking at a property to purchase with a 203k loan in the Quad Cities area particularly Davenport, IA.  I am hoping to purchase a home rehab it, live there a year, then sell or rent it.  I have a property in mind and am ready to get bids.

Does Anyone have a capital G General Contractor they would recommend using. I do not think I have worked less than 40 hours a week in the last year so I do not want to watch the subs or worry about work being done.  That being said I do have a fairly flexible schedule and do not mind dropping in every day to check on progress.   

Thanks in advance for the help!

[Jared Stroebele]

@Alex Bock

I am actually not sure I know that the money is put into escrow at the beginning of the project and you are allowed 3-5 draws from the escrow to pay.  The initial draw should be enough for permits and materials, and additional money is released as work is completed.  "The Book on Flipping Houses" by J Scott does not recommend paying for work until it is complete anyway.  

There is a quick article on getting a 203k loan Getting an FHA 203k Loan. It is lacking detail but is a pretty good overview. 

The 203k loan consultant in Davenport is Russell Upton.  He has some contractors that do 203k loans but indicated that they were pretty busy right now.   I think using the consultant is like training wheels it sounds like they are supposed to help with a lot of the details. Role of a 203k Consultant.

I would enjoy meeting up.  I also have zero experience I have done a lot of research and am anxious to get my first deal under my belt.