Boston Real Estate Investors Association

Do You Have The Right Contractor?

Choosing the right contractor is one of the most critical factors in completing a successful rehab. Your contractor controls so many factors: cost, time and value-added things like their expertise with layout, design, recommendations, and finding better ways of achieving your end goal while reducing cost. Your contractor is like your quarterback – he must execute your game plan effectively.

Here are some tips for finding a good contractor:

  • Require that the contractor provide evidence of having performed work on similar projects and scopes of work.
  • Require copies of all local business licensing being required and evidence of their meeting state contracting license requirements.
  • Ask if they have any letters of references for past projects available.
  • Require evidence detailing their insurance capabilities for general liability.
  • What percentage of the work do they normally perform themselves?
  • List all suppliers with which they currently have trade credit with and the amounts available to them.
  • List subcontractors with which they have had working relationships for the past five years (minimum).
  • List bonding companies that they have worked with before or that they are currently registered with or under bond with.
  • Have a percentage detail provided of the types of construction they have primarily been involved with over the past 5 year. Commercial, Residential, Institutional, Religious …
  • Ask to be provided with the names of two subcontractors that can be contacted for reference purposes.
  • Request to see a sample of a project schedule that they had developed in the past

Home Depot has awesome contractors they recommend!  Plus you can get construction loans with Home Depot to pay the contractors with.

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