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May 26, 2012, 02:10:37 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Why I'm bad at hiring contractors: « previous next »
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Author Topic: Why I'm bad at hiring contractors:  (Read 1068 times)
Sexxxy_Beast
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« Reply #15 on: November 24, 2011, 06:53:12 PM »

You broke one of the number one rules in dealing with contractors: Providing money up front.  

I will pay for materials sometimes but for that occasion I pay the material supplier directly and the supplier delivers MY materials to MY site. The contractor can be paid in stages with at least 25% held back until ALL work is complete.

My business is all about dealing with contractors, about 10% of my clients are scum bag contractors who don't pay their bills on time to me etc etc.  The biggest mistake i see people make is paying your contractors up front.  If I were you I'd manage all the bills, if the contractor needs something get it, get him to get it and bring a receipt,  and pay your subs directly.    Pay your contractor in stages if need be and get everything in writing.  Many times the contractor will charge you extra and claim you changed your mind on stuff, having everything in writing (a log book for example) makes it much easier when the arguments happen. 

About contractors appearance.  If the contractor looks immature, drives an immature vehicle (lifted, rims, chrome) its a bad sign, likewise if a contractor drives a beat up truck that isn't taken care of, paints gone etc that's a bad sign too.  Best to get a contractor who drives a decent and has a clean truck.   Ask your self this, if this contractor cant keep his own **** together, how is he supposed to keep your **** together?
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« Reply #16 on: November 28, 2011, 10:54:17 PM »

I agree
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Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Why I'm bad at hiring contractors: « previous next »
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