What Types of Expert Contractors Do Real Estate Investors Need?
Having a general contractor to handle all of the subcontractors is one way investors handle a top to bottom fix and flip project. Many general contractors work with subcontractors on multiple jobs and are able to weed out those who do not provide quality work for reasonable prices. However, a top to bottom fix and flip is not the only type of renovation project. For fix and flips and continued maintenance for rental properties, specialty contractors will be needed.
There are many specialty contractors who fall under the heading of construction building contractors:
- Framing Contractors will be needed if structural repairs are required in the fix and flip, or for roof, room, or closet additions. For most fix and flip projects, wood framers will be needed rather than steel framing contractors.
- Concrete and Brick Contractors will pour patios, lay blocks and bricks, and repair or replace cracked sidewalks, poured porches, and bricks for interior and exterior wall and floor coverage.
- Roofing Contractors will evaluate the current roof conditions including gutters and downspouts. They may be able to repair existing roof materials, or may need to completely re-roof the project. They will determine if any structural replacement will be needed to support the repaired roof.
- Siding Contractors will install, repair, or replace the exterior coverings of the project. They most commonly use metal, vinyl, wood, or other similar materials. They may need to work closely with other contractors such as brick masons if a mixed exterior is planned.
Mechanical building contractors include (and are often combined by one company or service):
- Electrical Contractors are responsible for the examination, repair, replacement, or additions to the electrical system including breaker boxes, outlets, lighting, heating and cooling, electrical entrance for the meter, and any other areas to eliminate any electrical hazards for the prospective buyer.
- Plumbing Contractors examine the current home water supply and septic (sewer) needs for the property and plans upgrades needed to meet post project plumbing codes. They install piping, faucets, toilets; garbage disposal systems; tub and shower surround systems, piping for ice makers and other appliances which need water, irrigation systems and other duties as specified.
- HVAC Contractors will examine the current project heating, ventilation, air quality control, cooling, and refrigeration systems and repair, upgrade or replace the systems to meet the needs of the project after renovations are completed.
Finishing building contractors will be needed for most projects such as:
- Drywall Contractors prepare interior walls for completion by other contractors such as painters.
- Finish Work Contractors such as painters, cabinet builders, flooring installers and others who will be required to complete specific repair or replacement work in the final stages of the project.
Investors who understand specialty contractors and their duties will be able to compose a project budget. Many building contractors work hand in hand to make sure any overlap in their duties is properly handled.
By contacting the professionals at LendingOne, investors can obtain the capital needed to complete a profitable project.