View from a contractor and investor

[Ron Ramsden]

After talking to many investors, homeowners and flippers as well as customers that I have serviced over the years I wanted to share a view from a contractor on some of the issues I have heard that were concerns.

First off I am an investor and contractor and  have been investing in multis for over 30 yrs (stared at 20 yrs old) with multis and a couple flips as well as a vacation home.  Some of the concerns and issues i have encountered and my two cents, whatever that is worth may assist with your dealings with the next contractor you encounter or need.

Preface is that we are in a dire need for skilled help and as the blue collar/white collar debate over college seems to escalate contractors will continue to have more work than they could possibly handle if they run a legitimate business.

1. Your buying a house or thinking of placing an offer but you need a contractor to give his/her opinion on it.  PAY THE MAN..  If you need a contractor's opinion or a write up or quote on a project pay them for their time.  They may credit it back to you if you hire them but the experience they bring to the table could be worth so much more.

2. Timing on work.. Plan ahead as long as you can.  Pease do not wait to call us the week or two before you need us. As for an example it is the beginning of May and we are currently scheduling for end of August and most times we can not "squeeze you in", everyone's project is important to them.

3. Deposits and contracts:  I can not speak for all contractors but if we do not have a signed contract and a modest $ 500 deposit we do not schedule the work.  This works both ways and is for the best of all properties. as for another example I just had a client discuss starting a project a few weeks ago and we talked about the date to start but he never sent in the deposit and contract so he as never placed on the schedule by my project manager.  Guess who called that day wondering when we would be arriving?

4. Be as specific as you can and demand the same from your contractor.  The more details the better.

5. If there are unknowns to work thru, discuss a time and material project.  Ask for actual copies of receipts from building supply houses and discuss head of time if you are paying them "time" to pick up the materials and what if any is the mark up of the supplies.  No surprise and being on the same page is best for all.  A great app for this is Hubdoc or group me for discussions as well as running basecamp for the projects.

6. Payments:  I have to be honest the clients that get top priority re ones I do not have to chase for money.  It is funny how a check that is mailed to me takes sometimes over a wee but my bills get to me in a day.

If your contractor is not utilizing contracts, payment plans, providing insurance binders ect maybe it is time to find a new contractor, but be nice to us we are a vanishing breed