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Updated over 9 years ago on . Most recent reply

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34
Posts
13
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Tony Otis
  • Investor
  • Minneapolis, MN
13
Votes |
34
Posts

Trouble getting rehab quotes on short notice?

Tony Otis
  • Investor
  • Minneapolis, MN
Posted

So I'm in contract to buy a duplex, my first rental property.  We had 5 days on the inspection contingency.  I had the inspection on the third day, found some things that need work.  My realtor got an extension for an additional 5 days.

I've had serious problems getting contractors to see the place and give me quotes on short notice.  I scheduled three after calling 15-20 numbers.  And now two of the three have cancelled on me.  Its now too late, I need to get back to the sellers by Tuesday.

My specific question is, what do you tell contractors when you don't own the house yet?  I feel like I'm unintentionally telling them I'm not worth their time.

I usually say something like "I'm looking for a contractor to come take a look at the house, I need new windows, there's an overhang that needs fixing, and some possible cosmetic work in the kitchen.  I need someone to come out by Monday night at the latest because I'm in contract to buy the house and I need to get back to the seller".

Do I just have poor luck or should I be more forward that I'm looking to pay them to fix this house?  I thought that would be assumed.

Most Popular Reply

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6,905
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
7,501
Votes |
6,905
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Matthew Paul#2 Contractors Contributor
  • Severna Park, MD
Replied

Time is money , I dont want to run around quoting prices on short notice to someone who doesent own the house for free .  Offer to pay for the estimates .  Honestly ,  you should have talked to contractors before you even looked at the property , just to see if they would be interested in doing your work . The majority of contractors probably do residential work straight for the homeowner , ( much better $ ) . Typically , ( not always) investors want quick , cheap and good .  Thats not the type of work most contractors are interested in .  

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