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Updated over 3 years ago on . Most recent reply

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4
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Justin Traver
  • Hood River, Or
1
Votes |
4
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Contractor is over bid.

Justin Traver
  • Hood River, Or
Posted

I was wondering who is responsible if a contractor goes almost 30k over their bid.  They are saying that I am responsible for the extra 30k.  Just a side note this rehab has taken over 10 months and it's not even close to finished.  It has turned into a nightmare.  

Most Popular Reply

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1,240
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Terrell Garren
  • Rental Property Investor
  • Concord, NC
3,064
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1,240
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Terrell Garren
  • Rental Property Investor
  • Concord, NC
Replied

I know it's unhelpful to your current situation but there is something to be said for starting small and growing.  The first few house I did needed paint, flooring, appliances, roof, etc.  I gradually built trusted relationships with contractors.  Around house 10, I started moving some walls, repairing floor joists, adding foundation piers, etc. This started a GC relationship at $10K that I would now trust at $200K.  Eventually, to make the #s work on new construction, I got my GC license to remove the cost and dependency from the equation.  Good luck to you. 

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