Fund Your Project with an Equity-Based Oregon Hard Money Loan
Contractors play a crucial role in real estate projects, from small property upgrades to major renovations. A reliable contractor is essential to a less stressful experience and has a significant impact on the project’s end result and overall investment returns.
Real estate investors have unique contractor needs, requiring professionals who understand cost efficiency, tight project timelines, and the balance between quality and budget. Where can you find these contractors, and how can you be sure they’re the right fit for your investment project?
Here are some of the best ways to source and vet dependable contractors.
How to Find a Good Contractor
- Online Platforms – Several well-known online platforms can help you find trustworthy contractors with verified reviews and ratings:
- Nextdoor – A community-based platform where neighbors share recommendations for local services, including contractors.
- Yelp – Provides customer reviews, ratings, and photos of contractors’ past work.
- Craigslist – While it can be hit or miss, independent contractors advertise their services on Craigslist. Always verify credentials before hiring.
- Google Search – An online search using location, real estate project type, and other targeted search criteria can reveal potential contractor resources. Pay attention to Google reviews.
- Networking – Word-of-mouth referrals are one of the most trusted ways to find good contractors:
- Friends, family & co-workers – Recommendations from your personal inner circle can lead to reliable contracting options.
- Fellow investors – Other real estate investors often use a network of contractors they work with regularly.
- Real estate agents – Many agents have a list of preferred contractors for home repairs and renovations.
- Investigate Local Sources – Sometimes, the best contractors aren’t found online but through in-person observation and queries:
- Visit local renovation sites – If you see renovation projects in your neighborhood, talk to the crew or project manager to gather information and recommendations.
- Talk to local suppliers – Contractors often purchase supplies from local hardware stores, lumberyards, or specialty shops. Ask these suppliers who they recommend.
- Home Improvement Retailers – Major home improvement stores often have contractor referral programs that connect vetted professionals with homeowners looking for installation services. While it might come at a premium price, this resource ensures a level of accountability.
Vetting & Selecting the Right Contractor
Once you’ve compiled a list of potential contractor candidates for your real estate project, the next step is thorough vetting. Follow these helpful steps:
- Conduct interviews: Schedule interviews with at least three contractors to discuss your renovation or remodel project. Pay attention to their communication style, professionalism, and willingness to answer questions.
- Check references: Request references from past clients and follow up with them. Ask about the contractor’s work quality, timeliness, and adherence to budget. If possible, visit a past project to see the work firsthand.
- Get a detailed bid: Ask each contractor to provide a written bid outlining the scope of work, materials, labor costs, and estimated project timeline. This will allow you to accurately compare options.
- Verify credentials: Ensure the contractor is properly licensed, insured, and bonded according to state and local regulations.
- Assess personal fit: While a contractor may be skilled and experienced if communication is poor or trust is lacking, a project can suffer. Hire someone who is easy to communicate with and aligns with your vision and expectations.
Finding a reliable contractor who delivers quality work within budget and on schedule is essential for a successful investment property renovation or remodeling project. Take your time, do your research, and invest in a contractor who will help bring your real estate vision to life, ensuring continued growth of your portfolio.
Need Financing? Talk to Our Oregon Private Money Lenders
Private money lender Gregory M. Russell is part of many Oregon real estate investors’ team of trusted professionals. We help finance the projects that grow your portfolio with hard money loans up to $400,000, customized to your unique needs. Our direct, equity-based loans are ideally suited to real estate purchases and upgrades like fix-and-flips, rental properties, and renovation projects. Call our team to discuss your financing needs. We approve loans based on your available equity – not employment or credit history. Call us at 1-888-477-0444. Or fill out our online loan request form. It’s that simple!