I haven’t begun real estate investing yet. I haven’t even purchased my first home. I live in Atlanta, GA where getting a home in more affordable than other places, but still not cheap. The types of homes and the areas I am looking for are out of my budget unless I get a fixer upper. I don’t mind doing this for my first home, but I am a little concerned about finding good subcontractors I can trust. Most of the homes I am looking at can be financed with a conventional lender such as Wells Fargo or Countrywide. That is a plus for me, but I am sure they are going to want to know how and who will do the work on the home and for how much. For those of you experienced in this business. How did you guys go about finding subcontractors for all of the work needed and how did you interview those potential subs to see if they were right for the job. There are many on craigslist, but I am sure some are poor and some are excellent. How do I know.
Also what is the best time to determine work that needs to be done on the home is this when the appraiser comes in and determines the “as is value” or the home and the ARV of the home after recommended improvements.
Thank you for helping a newbie out. Look forward to hearing from you. If there is a particular board for first time homeowners looking to buy fixer uppers, please point me there. Thanks!