Can't Find A Contractor
I've called several general contractors from the yellow pages. Most will not provide pre-closing cost analysis for new Real Estate purchases.
How should I approach them?
I've called several general contractors from the yellow pages. Most will not provide pre-closing cost analysis for new Real Estate purchases.
How should I approach them?
Please explain in greater detail..actually what is it that you are trying to do?
I apologize for withholding the details.
I'm looking at REO property. My goal is to purchase the property (single family homes), rehab it and sell to a retail buyer.
The Hard Money lender that I'm using requires that I get a repair estimate.
I've called several general contractors from the yellow pages and none will provide pre-closing cost analysis for new Real Estate purchases.
go see the places yourself, if you have any sorta eye for things that need repaired. write down all that you see and stuff you will need. when you think paint, don't think i need to paint this wall, think, i need to paint this room. when u see a porch that's falling, don't think i need it repaired, think i need it replaced. all this is to get the estimate closer to correct.
i'll tell you, when you think you know what it takes to fix a problem, go to home depot and ask them how much they would cost to come fix it. people there do work all the time. if you get a quote, ... double it. stuff always goes wrong or cost more than expected.
Look in your local paper or weekly throw-away paper that you find in stores. There are a lot of small contractors there who are looking for jobs. Find a couple that are insured and who have workman's comp for themselves and any employees they may have. get a few past references to see if they have kept to their estimates.
You can got to www.Servicemagic.com to shop for a contractor. I am sure you can find a contractor who is willing to go over to property.
Send me a ticket on an airoplane, not going to take a fast train and I will do the bidding fur ya
Hope this helps some
Ted Jr
Pre-closing cost analysis? Do you mean an estimate? What you need is a licensed, bonded, handyman. Most GC's aren't going to touch the smaller patch up work. A lot of those jobs just aren't worth the time and headache. for them. However, there are some GC's specializing in Rehabs. But I believe you need to start seeking out handymen and subcontractors specializing in whatever type of work you need done..i.e..plumbing contractor, carpenter, etc.. consequently you may end up with several repair estimates but it shouldn't matter as long as you meet your HML needs.
Appraisers will know how much it will cost to fix up a house also. You can make arrangements for them to come out and do an appraisal, and ask them to provide you with a ball park figgure of the cost of repairs. They don't do this for free however. Pay them for the appraisal, $300 is not something that you want to spend when you're just looking. Be selective and use this method for the ones that you think have the best potential. After a few of these you'll have a pretty good idea of the repair costs and be able to do this yourself.
Good Luck,
Jeff