Sales Executive, Andrew Michael discusses 4 Red Flags to watch out for when hiring a contractor:
- To kick things off, you should check the contractor’s online reviews. If they have mainly negative reviews or have no reviews at all, it’s typically better not to take a gamble on them.
- Secondly, if you are getting quotes from a contractor and their projections are unrealistic or if they are asking for an unnecessary amount of time or materials – this is not the right contractor for the job.
- Third – you might run into a contractor that is asking for a large amount of money up front. Anything more than 15% of the project cost might suggest that they are using that money for something other than your project.
- Last but not least, if your contractor is not promptly getting permits, it’s time to ditch them for someone who will do their due diligence.
Thanks for tuning in for this week’s Minute Monday, we’ll see you next week!
For weekly videos about hard money lending, real estate investing, and more!