Tarl’s tips are solid a 7th tip I would add is be willing to fire a bad contractor fast. I didn’t do that it ended up costing me thousands. On my channel I’m sharing what it was like buying and renovating my 250 year old rental property and I plan on going in detail on where I went wrong with the contractor 😅
@MarioRuscovici2 жыл бұрын
Watching this video made me think about what is not in this video. One thing which is not mentioned is to verify that the contractor actually has the expertise to do the job. Do they have any relevant certificates which can be independently verified (not references)? Two, best practice would be to ask for a break out of labor versus materials or supplies; have the latter run through your own account; and pay for labor only after a third party such a a home inspector has independently verified that a certain item has been completed. Third, the video does not address the increasingly common situation where repairs are to be completed remotely (you are at a long distance from the job site). Fourth, there are many people calling themselves a "handyman" or even getting a contractor's license, who have serious criminal records.
@Andradi3032 жыл бұрын
Thanks for this valuable info Tarl and BP! I’m about to get a bid from contractor #2, and just found a third to get an estimate from. So far, the first two haven’t mentioned contracts, line item bids, or draw schedules. Hopefully my BP membership includes these contracts and templates in forms or forums. Super helpful - and timely! Thanks again!!
@JamesP292 жыл бұрын
I find the ones that get back to me, communicate, keep me updated and are punctual and give me a detailed estimate including payment although not always the cheapest have usually served me well.
@priceandpride2 жыл бұрын
The ones chomping at the bit might also be a bad sign
@JamesP292 жыл бұрын
@@priceandpride Absolutely! Over anxious has screwed me more than once...
@thenewwayhome2 жыл бұрын
Totally agree with going for quality over speed. This way it's cheaper but the quality is ensured.
@koby29952 жыл бұрын
Good luck in getting contractors to bid on anything, for me it has been a pain to even have one guy that wants to do stuff.
@priceandpride2 жыл бұрын
Good luck getting any contractor to provide a detailed line item bid
@xhowardxzerox2 жыл бұрын
Same! I’ve already gone through the permitting process and have an approved permit. Reached out to 6 different contractors and only 1 has been willing to come out to look at the job and provide a bid. It’s crazy.
@koby29952 жыл бұрын
@@priceandpride I had one come in write everything down (I thought finally) just for him to tell me a month later that I needed to really tell him what I really needed to get done because they don't give out estimates to anybody.
@justincrasi46382 жыл бұрын
open the boarders and we'll get some decent tradesmen back in the US
@SuperSimpleRealEstate2 жыл бұрын
Great video Tarl! Thanks for the info dude!
@kristofwalker Жыл бұрын
You are awesome, dude!! Thank you
@The1SimLash2 жыл бұрын
Who would you want to do business with? Someone who's always late, disorganized, non communicative? Deal with reputable people and don't be cheap
@Pamela.B2 ай бұрын
Thank you for sharing :)
@dwilsongs2 жыл бұрын
Thank you
@Onecamera2 жыл бұрын
The market changes based on supply and demand. Summer demand winds down in the fall or window. Of course demand where you live the US. GOOD LUCK.
@hchayes9431 Жыл бұрын
What kind of trees are those behind you? And have always heard when hiring a contractor never revealed your occupation. That you will be "sized up " for what they can charge $$$$$. (Even though the shewed contractors have sized you up by the property value).
@propertychicago37082 жыл бұрын
How do you make sure contractors don’t run off with the materials?
@justincrasi46382 жыл бұрын
with a good referral/company, or contract, and/or you purchase the material and coordinate delivery of the material on site. Most decent contractors and businesses won't simply run off with someone's money.
@Montenegro6512 жыл бұрын
Thank you!
@davidwhite36542 жыл бұрын
GREAT INSIGHT
@patmarco22512 жыл бұрын
Those relying on BiggerPockets to do real estate will be sorely disappointed. Information is often inaccurate, incomplete or outdated. God help us
@TheWealthBuildingJourney2 жыл бұрын
14:40 The 7th of the 7 Habits of Highly Effective People: 'Sharpen the Saw'
@RamaHealthBeauty2 жыл бұрын
by author Stephen Covey
@hchayes9431 Жыл бұрын
LOL
@antonbriggs56802 жыл бұрын
Soon you'll see Contractors charging for line item bids.
@mr.g9372 жыл бұрын
Along with paying for estimates, it's still worth it. The cost pales in comparison to what you're spending on the project itself.
@antonbriggs56802 жыл бұрын
@@mr.g937 That's IF you get the project. Get enough of them tire kickers any you'll be wondering why your in business 😂