Finding contractors is an ongoing process for a rehabber, especially if you are working on multiple projects. Tweet ThisSo how can you find good contractors to work on your projects? You can go to your local Home Depot I’m sure we have all seen plenty of contractors there; however, this strategy can be risky and very hit and miss. There are also services light Angie’s List, Service Magic and other where you can obtains referrals, however, you may have to kiss a lot of frogs before you find a winner.
Another strategy is to drive around areas of known rehab activity during the day and stop and get the phone numbers of the contractors working on the houses. You will be able to see how they work and what their work looks like before you call them.
Tweet ThisOne of the best resources for finding good contractors is by networking with other investors and obtaining referrals especially from experienced investors. You can network with other investors at your local REIA meeting; however, it’s easier to obtain referrals if you are involved with a mastermind group where sharing is a required. In addition some REIAs have bulletin boards or forums where you can obtain referrals. You can also join local meetups in your area or join email forums. Another good resource for finding good contractors is social media. Through social media you can join different groups on Facebook, Linkedin and Google+. Through these groups you can share information ask questions and obtain referrals.
It would also be a good idea to consider getting a mentor in your local area and preferably one who is actively rehabbing. One huge advantage to working with a mentor is the fact that they allow you to work with their network. Tweet ThisIt’s a lot easier to be successful when you are working with the right people. Business is about relationships and there is no better way to expedite your success than working with someone that already has a proven track record. So consider working with a mentor in your market.
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