One Call to Repair – Redo - Rebuild – Refurbish – Re-Value Property

You can turn a run-down foreclosed property into a high value asset with a good contractor, but how do you find one?

4 Major Mistakes People Make When Hiring a Contractor and How You Can Avoid Making Them!

1) Fly By Night Contractors – Making Big Promises:

Do you remember reading horror stories after the hurricanes on people being ripped off by would-be-contractors? Some actually had their money stolen with contractors who literally fled in the night after taking a deposit. Others paid exorbitant prices for poor quality, half-ass work that needed to be redone in a matter of months.

Advice: NEVER hire a Contractor that is not Registered & Certified by the State of Florida. "certified contractor" means they possess a State Certified License issued by the State and allowed to contract in any jurisdiction in the state. (Certified contractors are designated by an occupation code which begins with the letter "C".) Don’t just accept their word for it, go online or call the State and confirm that it’s active and in good standing. This is a protection for you. If you have any problems you will have the power of the State to help you mitigate damages.

2) Hiring a Non-insured or Under Insured Contractor:

You know enough not to ever allow a contractor or service company on your premises that is not insured. Also remember that a hundred thousand dollar or even a million dollar policy is insufficient these days. A major injury can quickly deplete even a million dollar policy in this “sue-happy” world we’re living in.

Advice: NEVER hire a Contractor Without a Multi-Million Dollar Certificate of Insurance. "Active – Current Certificate of Insurance" Don’t just accept the word of a contractor or even a copy of the certificate because a payment could have been missed and the insurance terminated. Be sure you contact the insurance provider, have them confirm the account is current and active. Have them send you a personal certificate naming you as a recipient of the active policy, if the account or policy is cancelled you will be notified as a recipient of the policy.

3) Not Getting A Written Proposal and Warranty:

Before getting any work done on your property be sure you have received a written proposal detailing all the work to be completed.

Advice: NEVER hire a Contractor Without a Detailed Proposal and a Written Warranty. “Written Contract – Warranty & Guarantee” Watch for small details like, who will clean-up after projects, what’s the time line and completion date, do they use sub-contractors. Next be sure they include their Guaranteed completion date especially if they use sub-contractors. And finally get a Warrantee on their work. Pay close attention to what the contractor may say, whenever they mention anything that sounds good, say, “Please include that in your proposal”.

4) Not Doing the Math – Not Getting The Price Right:

There’s always the instinctive desire to pay as little as possible, but as you can see from the first 3 items above a legitimate project partner quote will not be the same as a “Handy-Man” neighbor or that friend of a friend. The most costly mistake on a foreclosure turn-around is time-delay.

Advice: NEVER pay too much or too little when hiring a Contractor.
The most costly mistake we see is paying too little. Too often we see money spent on sub-standard work, where short cuts are taken to save a few bucks. This always ends up costing you more in the end. If everything goes exactly as planned you may save a few hundred dollars. You know that rarely happens. Worst case you end up paying to fix the mistake with what you should have done in the first place, hired the right guy.

Next is paying too much. Thinking the best way to do things is to become my own contractor and hire the individual sub-contractors to do the work needed. You need to know that the labor and time estimates are never as expected. It all starts with the blame game. One sub-contractor worker blames the other for the delay, up charges occur due to schedule changes, and once they start you're stuck paying dearly. Time delays on a foreclosure turn-around are deadly to your profits. If you need to start making mortgage payments they are sure to punish your profit even more.

A good contractor will price the job right and take full responsibility for delivering it as proposed. You’ll know exactly what it will cost and how long it will take. This is the most important component of turning around a foreclosed property to profit.

If you decide to work with us you are fully-protected from making these 4 Major Mistake.

We invite you to Call for a FREE Foreclosure Turn-Around Report – Call Tom Right Now (239) 910-2896 or email your request.

The Foreclosure Turn Around Report will provide detailed information on how to find a good profitable property or how to turn your new investment profitable. Just some more good useful information to help you make a smart decision regarding your foreclosure properties on Cape Coral.

In a hurry for information… please call and we’ll be happy to discuss your specific situation exactly. Call Bill (239) 707-3859 ... Call Tom (239) 910-2896.

State Certified Contractors By The State of Florida

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