Lubbock, TX General Contractors and PM
@Trey Goodwin glad to hear you are going to be investing in Lubbock, that is where I invest as well. My other properties so far have been light rehabs but I'll be starting a significant rehab on a property soon. If the property turns out well I will recommend the GC I'm using (assuming he wants additional work, he seems pretty swamped). I can't recommend any property managers because I self manage right now.
A word of advice on Lubbock - I would be cautious of properties that give you 1.5%, they are generally not in good areas. The Lubbock market is a little slow right now due to overbuilding of new multifamily so you want to make sure that you buy in desirable areas or you may be waiting a long time to get your property rented (or worse, get bad tenants). This last house I bought was in a desirable area and sat on the market for 2 months before being rented. Just my personal experience.
Good luck!
My wife and I are also out of town investors, live in New Braunfels and invest in Lubbock. Her family lives there and are a great asset as boot on the ground. We just got back yesterday from meeting with our new PM company, Location Rentals. So far I have been impressed with their professionalism and the systems they have in place. If needed, I can tell you what PM company we are washing our hands of.
Our first handful of deals did not really have a value add component but we both realize that is the next logical step.
The struggle is real. Reputable full service contractors are hard to find. There's a lot of people that can do the work, don't get me wrong...but few are competent enough to do it right for a decent price. I've gotten nickled and dimed, had sub-par work, and had people outright steal from me. Moral of the story-- you get what you pay for.
Don't ever pay up front. Get a contract. Pay for materials yourself if they ask for money for supplies. Good luck!
@Corey Zant. Wise words that are all too familiar.
Hi Trey,
I used to live in Lubbock and have property there that is managed by Location Rentals. The property manager I use is great. I signed on with her when she was with another company that merged with Location Rentals. I'm not sure if she is taking on additional clients, but I would be happy to give you her name.
I can speak for the character of Location rentals. I go to church with Dan, and he has partnered with some great people. Susan Backus is an insurance client of ours, and they are great people as well. I think that would be a great resource for property management in the local area.
I know this is an old post but wondering if anyone has a good contactor in Lubbock.