Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
8y
If you show-up and follow through with your word you have beaten 80%+ of your competition in the construction industry. Pretty low bar. Specialty trades are easier to find. I can find window companies, plumbers, electricians, etc. quick and easy. Them being good at their job, reliable, and fair priced is a different story but they'r easy enough to find in general. For me anyways, it's tough to find good carpenters and guys that take care of the general repairs that fall between the trades.
Investor · San Jose, CA · Member since 2017 · 453 posts · 254 votes
8y
@Benjamin Bleasdale if you can master cabinets, baseboard, tile, installing bathtubs, windows, all types flooring, siding, roofing, drywall, painting and basic handyman stuff you will do good. Also be honest, show up everyday and work diligently, communicate. I know it’s sounds like “well duh” but you would be surprised how few contractors do.
Rental Property Investor · Knoxville, TN · Member since 2011 · 701 posts · 531 votes
8y
If you show-up and follow through with your word you have beaten 80%+ of your competition in the construction industry. Pretty low bar. Specialty trades are easier to find. I can find window companies, plumbers, electricians, etc. quick and easy. Them being good at their job, reliable, and fair priced is a different story but they'r easy enough to find in general. For me anyways, it's tough to find good carpenters and guys that take care of the general repairs that fall between the trades.
Contractor · Jacksonville, FL · Member since 2017 · 1k+ posts · 2k+ votes
8y
@Benjamin Bleasdale
skip trying to work for flippers and rehabbers, want too much for not enough money..bottomline.
get back into construction but set standards for your company, do great work and charge high..people will pay for it. right now good construction people are in demand.
I recommend working directly with homeowners and business owners (commercial construction)
Kingston, NY · Member since 2017 · 252 posts · 138 votes
8y
What I’m looking for is basically someone who can “take care of issues”. I have a full time job and I can’t afford to be distracted. So my IDEAL would be someone who is comfortable making executive decisions on hidden concerns like plumbing layout etc and defraying/delaying costs. They know how to get quality products and subs efficiently and cheaply.
My IDEAL compensation to my contractor involves creating a partnership so that they are incentivized to do good work, quick, and cost effectively. By partnership I mean that their compensation is tied to the selling price of the house. Obviously, my IDEAL contractor is an experienced flippers themselves.
Happy Valley, OR · Member since 2018 · 51 posts · 12 votes
8y
I haven't done a deal yet though I recently met a contractor with whom I'd like to work.
What I've found in our discussions so far is that we are on the same page regarding our work ethic and values: getting the job done on time for a reasonable price that is equitable for all involved. He is on board with keeping on top of a flippers schedule. He understands that if we work together, we will be successful together.
Investor · Chattanooga, TN · Member since 2009 · 1k+ posts · 903 votes
8y
I've been in construction for 20+ years. There's a running joke: You want quality, price, and speed. Pick two. Regardless, there's a shortage of skilled trades labor. Guys that are worth their salt in this market are typically booked weeks out if not longer. Guys that can show up at the drop of a hat...well you don't want them. I myself am looking for more labor for both my flipping entity as well as PM company.
What I’m looking for is basically someone who can “take care of issues”. I have a full time job and I can’t afford to be distracted. So my IDEAL would be someone who is comfortable making executive decisions on hidden concerns like plumbing layout etc and defraying/delaying costs. They know how to get quality products and subs efficiently and cheaply.
My IDEAL compensation to my contractor involves creating a partnership so that they are incentivized to do good work, quick, and cost effectively. By partnership I mean that their compensation is tied to the selling price of the house. Obviously, my IDEAL contractor is an experienced flippers themselves.
Contractors are incentivized by money , thats why we do this type of work . As a contractor I would never work off a percentage of the house sale , too many variables .
What I’m looking for is basically someone who can “take care of issues”. I have a full time job and I can’t afford to be distracted. So my IDEAL would be someone who is comfortable making executive decisions on hidden concerns like plumbing layout etc and defraying/delaying costs. They know how to get quality products and subs efficiently and cheaply.
My IDEAL compensation to my contractor involves creating a partnership so that they are incentivized to do good work, quick, and cost effectively. By partnership I mean that their compensation is tied to the selling price of the house. Obviously, my IDEAL contractor is an experienced flippers themselves.
Contractors are incentivized by money , thats why we do this type of work . As a contractor I would never work off a percentage of the house sale , too many variables .
I am not a contractor, but I agree, they should be paid for the job they are performing, not paid by a percentage on the sale of the house. What happens when you have a dud deal and it either takes way to long to sell, or makes way less than anticipated. Why should the contractor have any responsibility for "your" deal?
A good contractor is on time and on budget (even if they aren't cheap, don't nickel and dime). Do what is contracted, don't make the investor chase you, and do good work!