Fix and FlipNew Construction

Finding Contractors for Your Fix and Flip

Finding a Fix and Flip Contractor for your Rehab Project  

How to find a Contractor 

Whether you’re looking to do a minor kitchen remodel or a complete room addition, you’ll likely need a contractor to get the work done. But with a sea of potential candidates ready to hire, it can be tough to find reliable fix and flip contractors.

Online contractor-matching services can be a fantastic resource for homeowners. With algorithms that can match contractors with your project, these services draw on a wealth of relevant information, including criminal background checks, license verifications, client reviews, and more.

Word of Mouth 

If you’re unsure about the prospect of hiring a stranger, a great way to find a potential candidate is by getting recommendations from people you trust. Word-of-mouth is considered the most effective method for finding contractors because the person you’re speaking with is often someone whose opinion you respect.

They have firsthand experience with the contractor in question, and while online reviews can be a good way of finding potential options, hearing from people who have hired fix and flip contractors can be an invaluable resource when trying to narrow down a larger pool of candidates.

Fix and Flip Contractor Relationship   

Your relationship with your contractor is easily one of the most essential factors in the fix-and-flip process. Like any working relationship, clear lines of communication are necessary for getting work done, so having a contractor you can speak with transparently is an absolute must. While exploring your options, be sure to have a quick phone call or two with the contractors you’re considering.

Better yet, meet them in person if you can. Getting a sense of how you and they interact will paint a miniature portrait of how a potential job may go if you hire them in the end. If they’re difficult to speak with or don’t seem engaged, that may be an indicator of how that relationship will be, so take time to get to know them before you hire. Understand how they adapt and accept criticism. The better they interact with you as you navigate the process, the easier the relationship will be.

Research Fix and Flip Contractors  

Whether you hire a recommendation from a friend or a stranger online, take some time to research and nail down what you’re looking for. Start by looking at their records and reviews. For example, do they have a history of finishing work on time, or are they habitually late? Are they subject to an unusual number of lawsuits? Is their license in good standing? These points can indicate what they’re like to work with and can make or break potential candidates before you get invested.

Additionally, general contractors often have specialties in which they excel. Some do a lot of work on bathrooms, for instance, or have more experience with historic homes. And while many GCs are contracting out, they can still bring expertise to the rehab project. By working with someone with more experience in an area you need, they may be better suited to navigating issues as they arise.

Research potential candidates thoroughly. Set up meetings to ask preliminary questions and treat their hiring like an interview. Not sure where to start? Stephen Fanuka sits down with Architectural Digest to highlight ten important questions that should be asked during the vetting process.

We know that finding contractors can be time-consuming and frequently challenging. At Lima One Capital, we want to help you find the right contractor for your next Fix and Flip or multifamily rehab project. Once you’ve found the right fit, contact Lima One for a Fix and Flip loan. We specialize in private real estate lending and are committed to helping you succeed with your investment property.