Wednesday, July 19, 2023
Finding good contractors is hard. A contractor can make or break...
Finding good contractors is hard. A contractor can make or break your project. Finding the right contractor can be a long and tedious process, but in the end, it is worth it.
Here are some of the ways we find badass contractors for our real estate investment projects, here at Clark St.
One of the most effective ways to find a good contractor is to ask for referrals from other contractors. My favorite question to ask is "Who do you like to follow?" What I want to know is which carpenter does the plumber or electrician like working with. Who does my stone expert like to follow when installing granite countertops on newly installed (and hopefully level) cabinets.
You should also ask other real estate investors, as well as real estate agents and brokers. Referrals from people you trust are invaluable. They'll also save you a lot of time. Start by asking around in your network for recommendations. You can also look for online reviews on websites like Yelp or Angie's List, as previous clients will often leave feedback on contractors they've worked with in the past.
They pick up materials on their way to the project, not after they arrive at the site. Bad contractors spend their day running back and forth to buy materials, which wastes massive time (aka your money).
So the guys in the parking lot when the lumber yard, plumbing supply store, or Home Depot opens are the contractors who have their act together. Those are the ones you want to meet and eventually hire.
Driving by a project similar to one of your projects? Swing by the local Dunkin and pick up a Box of Joe. Go back to the site and introduce yourself, coffee in hand.
Tell them you've been driving and saw their truck. Also mention you've heard good things about them. Give them your card and let them know you have similar projects if they're ever looking for more work. They will remember you, especially if their current boss never buys them coffee.
Finding a good contractor doesn't have to be challenging. With these tips, you can simplify the process and avoid costly mistakes that can arise from an unreliable contractor. Always remember to ask for referrals, check for licenses and insurance, review their portfolio, get multiple quotes, and interview and check references. Take the time to carefully vet and select your contractors. You'll significantly increase the chances of having a successful project.
Clark St Capital is a real estate developer and sponsor of long-term, high-yield, cash-flowing real estate projects.
415 Killingworth Rd
Higganum, CT 06441
Office: +1 860.675.5800
Resident Support: +1 415.417.1656
Academy Support: +1 860.675.5800
Acquisitions Team: +1 860.375.9060
No Offer of Securities—Disclosure of Interests. Under no circumstances should any material at this site be used or considered as an offer to sell or a solicitation of any offer to buy an interest in any investment. Any such offer or solicitation will be made only by means of the Confidential Private Offering Memorandum relating to the particular investment. Access to information about the investments are limited to investors who either qualify as accredited investors within the meaning of the Securities Act of 1933, as amended, or those investors who generally are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments.