Often times we as investors make things harder than they need to be. That’s not to say the task at hand isn’t difficult, but there are always ways to attack it.
Two Ways to Find a Good Contractor
Finding a good contractor is one of the harder things to do as a real estate investor, especially when you are first starting.
Sometimes keeping a good contractor is difficult as well being that there is plenty of work to go around right now so even sub par operators are busy as hell.
There are two ways we can go about findings contractors, one is pretty obvious and the other isn’t so obvious until you think about it.
Pretty obvious, right?
Ask people to recommend someone. It can be easier said than done as many investors don’t even want to share their contractors info. It’s not how I roll, but I get it. The contractor is busy enough, if you refer them even more work then they may not have time for your next project.
Luckily most people are cool about it. So they key is to find good investors and get referrals from them. If they are a good investor that means they likely have a competent contractor, other wise their investments wouldn’t be so good.
Go to local real estate investor meetups and network. As you become friendly with others you usually can get resources.
I personally had this exact experience in a new market last year. I was struggling to find a plumber and my friend invited me to a meetup where she proceeded to introduce me to some gents that invested in the same area.
They were happy to share a resource (especially because they had more than one plumber they used) so there was no worry that “their guy” would get jammed up.
2.) Driving for Contractors
Every real estate investor has heard of driving for dollars, which means to drive around an area looking for potential properties to buy.
How about driving for contractors???
If you drive a neighborhood looking for deals, why not look for contractors too? You are bound to see properties getting worked on. If so, stop and say a quick hello to get the contractors info.
Doing this on the weekend is a good idea too because that means the contractor is likely willing to put in a weekend to finish a job on time. Doesn’t mean that is always the case, but you can feel it out when you chat with them.
Either way, we need to be proactive in order to find solid members of out team, whether it’s a contractor, title company or lender – the better your team the better your results.