Hard Money Contractors

Rehabbing, Fix and Flip, Rental Properties
1

Hey Folks;

I finally going the hard money route and having trouble finding contractors willing to deal with this type of arrangement. Any thoughts…

2

Hi Fishtownre,

You might consider offering them a percentage of the profits after payment for their services. You’re being paid for your expertise in acquiring the deal, he or she gets paid for their service and the percentage is for taking the risk with you.

Make sure you run the numbers and have a pad . . . it always ends up costing more and taking longer. Especially if you’re new to the business. And check out the contractor to make sure they are legit and have the right license, insurance and bond in place before starting work.

Good luck. Keep us posted.

Cate

3
I finally going the hard money route and having trouble finding contractors willing to deal with this type of arrangement.
What do you mean by "this type of arrangement"? Being paid on a draw schedule? Not giving the contractor money upfront?

Some contractors are used to high end renovations for retail homeowners. There are plenty of contractors out there who are working well with other rehabbers in your area and may work exclusively with investors. You’ll find someone, just keep looking.