Contractors are difficult to deal with.
It’s just the nature of the beast.
But if you are a landlord, or any kind of real estate investor, dealing with those in the construction trade is part of daily life. This is especially true for landlords, like myself, who choose to invest in fixer-upper rentals to gain that extra equity push. (See How to Make $100,000 Per Year with Fixer-Upper Rental Properties for more info on this “BRRRR” strategy.)
But how do you start? How do you know they aren’t ripping you off? How to do you decrease the stress and make the process streamlined?
The truth is, there is no perfect system. But hopefully these eight tips can help.
Related: The Ultimate Guide to Finding an Incredible Contractor
8 Tips for Managing Contractors and Handymen
1. When to Use Bids vs. Hourly Pay
Larger jobs tend to work better by “bid” where smaller jobs tend to work better by “hourly” pay, but there is no hard and fast rule for either. Some contractors prefer one method over another, but it’s usually negotiable.
(Click to read on BiggerPockets…)
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