Tips for Hiring a Home Renovation Contractor
A key part of successfully flipping homes and building your real estate portfolio is partnering with the right people. As a real estate investor, there’s nothing more valuable than a dependable home renovation contractor.
After buying a property, the next and biggest step is to repair and renovate it so that it’s livable and ready to be put back on the market. The right home renovation contractor makes getting a home up to snuff a breeze. But with so many companies to choose from, making the right decision isn’t always easy.
Keep reading to learn some of the top tips for hiring a flipping contractor that you can trust for all of your projects.
Flipping experience is a must
Not all general contractors know the ins and outs of flipping. You want to find a contractor that has an investor mindset. Working with a contractor that has some experience with real estate investing offers some key benefits.
First, they know how to get high quality materials at the right place. They can also provide sound advice as to which projects will provide the best return on investment. The right home renovation contractor can also ensure you stay on schedule and on budget.
To gauge how much experience a contractor has in the flipping industry, ask simple questions such as:
How long have you been flipping homes?
How many flips have you completed?
How large is your crew?
And of course, make sure that the contractor you partner with is licensed and insured.
Ask for pictures of past projects
Proof is in the pudding, or in this scenario, it’s in the photo evidence. Before hiring a home renovation contractor, ask for before and after photos. This allows you to see the company’s work firsthand. Pay close attention to the small details. Photos will easily show whether the contractor cuts corners and tends to rush to get a job done.
If a contractor doesn’t have evidence of their work, this is a huge red flag. A contractor that’s proud of their work will have a portfolio to show off to potential clients.
Ask for referrals
As a real estate investor, chances are that you have a large network of other investors. If you’re unsure where to look to find a qualified home renovation contractor, your professional circle is likely to be able to help.
Another option is to look at local flip properties. Research who is doing the renovations and if you’re impressed by the work, reach out and inquire about their services.
Communication is key
As with any solid relationship, communication is key when working with a home renovation contractor. You never want to be in the dark as to the status of a project. There’s nothing worse than not knowing where a project stands.
To avoid frustration and uncertainty, hire a contractor that values communication. You want to work with a company that is readily available and offers quick, timely responses.
As renovations begin, make sure that you communicate with the project manager, who should keep you in the loop at all times. This person should provide daily project updates so that you’re aware and informed.
Discuss your project timeline to make sure that it’s feasible. Communicate potential roadblocks or hiccups that may extend the finish date.
Be clear about your budget
Not only should you communicate exactly what you want done to the property, it's even more important to discuss your budget. This way the contractor you choose can provide a reasonable quote. This also sets expectations for both parties, which greatly lowers the risk of surprises at the end of the renovations.
Depending on your budget and time constraints, you may need to break renovations into several phases. This minimizes upfront costs but may slightly delay the project completion date.
Choose HomeRX Cattanooga
There are plenty of home renovation contractor companies in Tennessee. But if you’re looking for a company that has more than a decade of experience, a large portfolio of successful flips, and knowledge of the industry, HomeRX Chattanooga is the best option.
You can count on our team to get the job done right the first time. We use the best materials and guarantee to communicate with you every step of the way while meeting your budget and schedule.
Ready to get started? Contact us today at (423) 347-6248 to discuss your home renovation needs.