Are All Contractors Good for Investors?

Question

So I am on the search for a contractor. I have been asking family and friends and just about anybody that I know who had contractor work done recently who’ve they used. This is when a question hit me? Are all contractors good for Investors. If a family member had there kitchen remodeled for 40k and they love it and say that the contractor was reliable would this be a contractor worth hiring if I’m looking to put 20-30k of work into the whole house!? All comments would be greatly appreciated thanks!!!

Nate Fleming · Answer

@Jack Perfett

As a contractor myself I would say majority of contractors can do both.  From our perspective, when we are walking out a job we have to size up what the customer wants (when they don’t want to tell you) .  Some homeowners want things perfect and are willing to pay for it,  others don’t care and want things reasonably priced.  Investors are the same way.  To make things easier for the contractor let them know what your price expectations are,  and that will go a long way.

I always ask what are their price expectations so we can talk levels of finish and such but seldom will people answer.  I feel like it’s going to buy a car,  and the seller won’t tell you how much they want,  they just say “how much do you want to pay?”

Dalyn Hazell · Answer

@Jack Perfett I would take the opinion of an investor over a family or friend client. Usually, an investor is looking for a more budget friendly option with a person they’ve used multiple times.

With that said, you can choose a couple routes when looking for a contractor. You can go for the licensed, bonded, and insured tradespeople with a nice trucks and fabulous websites. Or, you could go for the lesser known￼￼ contractors who could make you a ton of money￼, albeit with some risk involved.

The general consensus is to not choose the cheapest option though. References, pictures of past work, and general likability go a long way.￼

Ken Nyczaj · Answer

@Jack Perfett start with smaller deals that just need a basic renovation before getting into the full gut rehabs. Maybe some floors, paint, roof, windows and siding. It takes awhile to find someone you’re compatible with but it’ll happen after some trial.

Traci Penkala · Answer

@Jack Perfett

I work for a General Contractor and in my opinion it is primarily based of consistency rather then price there are different scales of construction to suit the needs of investors. A Contractor is willing to negotiate on price if he is guaranteed that more projects will be sent his way in near future!

Lamont Chen · Answer

@Jack Perfett

The scope of work for the 40k kitchen renovation would be probably be a bit more high end than what you may want for your rental properties. Depending on what the area calls for you would go for "rental grade' improvements so that you get the best ROI. For this type of contractor sometimes networking with realtors, flippers, etc. will lead you to someone who can get the job done.

Are All Contractors Good for Investors?

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