NUTS & BOLTS & S
REHABS & FLIPPING
PLACING THE WRONG TENANT CAUSING YOU STRESS? Placing the wrong tenant can quickly cost you in unpaid rents, faster than normal wear and tear, or major damage to your rental home. Real Property Management uses comprehensive advertising and thorough screening to place quality tenants who will pay rent on time, sign longer leases, and take care of your property. Let us lease your rental home for you.
2 EffectiveWays to Get the Best Contractors on Your Team BUILD A CONTRACTING “BENCH” YOU CAN RELY ON TO WORK FAST AND MAXIMIZE RESULTS.
by Craig Fuhr
re you ready to hit the ground running with flips, but have no bench of contractors to do the work? If so, then you are facing one of the most common issues that stall out new investors, but don’t worry. The lack of reliable labor obviously presents a problem of monumental proportions to most new investors, but it is something that is easily and quickly solved. When looking for contractors, investors are always trying to achieve the perfect balance of quality, speed, and cost. It’s criti- cal that we don’t pay too much, but we also can’t pay the lowest price and end up with a contractor who doesn’t do a quality job or just doesn’t show up. On the flip side: just because you pay a contractor an above-average amount for a job does not always mean you’ll get a speedy job done with precision quality. This is truly the “contractor conundrum,” as I call it. Contractors come and go. Consider yourself lucky if you’re able to retain a good contractor for more than three or four jobs. If you want to be a successful rehabber or landlord, you need to reconcile yourself to the fact that a good portion of your time will be spent A
finding, vetting, and managing your bench of contractors. Your success will depend on the strength of your Rolodex, so leverage these two simple and highly effective techniques to find a bevy of contractors precisely when you need them. STEP #1: GO WHERE THE HERD IS When you’re hunting – you have to go where the herd is, right? You’ve got to get up early – grab your shotgun, and head on over to the watering hole, where you know the herd will be grabbing its morning drink of water. Strangely enough, it’s no different with contractors…except for the shotgun part. Ask yourself, “Where do contractors hang out?” Give yourself a gold star and go directly to the front of the class if you said, Home Depot, Lowes or any building-supply house. Now that you know where the “watering hole” is, get there early for the best results. So, there you are, just before dawn, at the Home Depot. Just as you’re finishing up your “Venti Americano,” the vans start rolling in. Hopefully your phone is fully charged at this point
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100 | think realty magazine :: october 2017
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