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Updated over 9 years ago,

User Stats

9
Posts
5
Votes
Benedict Joanis
  • Lender
  • Montclair, NJ
5
Votes |
9
Posts

Investor Friendly GCs in Northern Jersey

Benedict Joanis
  • Lender
  • Montclair, NJ
Posted

I am a fairly new investor looking to get into my first rehab. I have looked at a lot of properties, mostly through MLS. Came up with varying strategies on how to find the best deals, from only working with listing agents to driving for dollars. Anyway, I trusted a contractor early on and got burned. Long story short, we were supposed to partner on a deal and he backed out last minute, citing discrepancy in the ARV. So, we decided to part ways and come to find out, he actually grossly underestimated the repair cost, by almost 30k, which probably explains why there, all of a sudden, was an "issue" with the ARV, the crux of our initial offer. And the kicker, he still offered to be my contractor on the deal... Explains why these guys have such a crappy rep... Needless to say, I had to back out of the deal itself as the sellers weren't willing to reduce the sale price. So, I'm back on the horse again, looking at properties with contractors mainly from Angie's List and realtor recommendations... But I get the distinct impression that some of these guys don't like working with investors (could be because that one of them actually told me this... lol)... I guess I'm now taking to the BP forums to see if you guys had any other suggestions.... As always your help is greatly appreciated.

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