Finding the needle in the haystack

[Katlynn Teague]

Good morning BP,

I saw a post this morning that got me thinking about the biggest issue when it comes to flipping. The biggest issue many of my investors have run into is finding a great contractor. Finding the deal and the financing is easy but finding a great contractor is like finding a needle in a haystack. My question is for my experienced flippers...

How did you find your contractor and what made them the perfect choice for you? 

[Corby Goade]

The truth is that finding the right contractor is a painful and expensive process. You will DEFINITELY hire some losers and lose money, there's really no way around it. 

Where the rubber meets the road is once you find a good one, you treat them well, like a valueable team member. I see posts from people here all of the time that have a great contractor and they want to grind them down and treat them like a crappy employee and then they wonder why "all contractors are so awful."

If you have a contractor that does good work, shows up, returns your calls and texts and charges you what they say they will charge you- play their game. Do they want a deposit? Pay it. Are their guys working their tails off doing exterior paint for you on a hot day? Send them pizzas and a case of gatorade. Did they finish the job close to the timeline they proposed? Take them out for a nice steak dinner to celebrate together. 

Most newbies have a good experience with a contractor but they want to beat them up over a change order that is totally out of the contractor's control or that the contractor doesn't want them to provide their own crappy materials. You WANT your contractor to make good money on your jobs so that they drop everything when you call and WANT to prioritize your jobs and partner up. Don't beat them up, pay them well, on the schedule you agree upon. Heck, pay them a bonus. 

Once you find a good one, treat your contractor like a business partner and see how you grow.