Do you pay for quotes?

[Brittany King]

Hello all!

Thanks for taking the time to read this. I’m still new to investing and I wanted to know was it normal to pay someone to give you a quote on something you need done or fixed in your investment property.

For example I saw a construction company charging $100.00 for a quote to do a rehab project. Is that normal or industry standard? Thanks for all your time and advice. Have a great day.  

[Kenneth Bullock]

It all depends. As an ex-contractor, I didn’t charge for estimates/quotes, on owned properties, as that was an attempt to get the job. I did however, charge for service calls & potentials, big difference!

 If you want a bid to rehab a potential project, or trouble shoot a problem, why should the contractor help you work your deal, for no compensation, if you are looking to make a profit?

If you own the property, and are just looking for competitive bids, do not pay. If you are trying to do a deal, and need the info, pay for the knowledge.