Real Estate Blog

Maintenance is an important area, particularly if you’re new in the business. This is an area where I see a lot of mistakes being made by investors.

I spend a lot of our time in our property management business time coming in for new investors fixing or trying to overcome some of their maintenance issues and problems, particularly if they’ve done rehab. If they’re new in the business, maybe the contractor takes advantage of them and overcharges them or doesn’t do enough or too much. We see this all the time. Continue reading ‘Why You Should Check References When Choosing a Maintenance Contractor’ »

One of the things you’re going to learn is always make sure you are behind the contractor in the amount of work. Let’s say the contractor does a $1,000 repair. What I suggest is that you only give that contract $200 or $300 to start.

Make sure he goes out and buys the supplies and all that stuff. He starts the work and gets about 50% done, so then in theory he’s done about $500 worth of work but you’ve only paid him $200-300. That’s fine. If he wants to wander off and go do something else and not show up on time you can get out of that and you haven’t lost any money. Continue reading ‘Learn the One Secret You Must Know to Prevent Being Burned by Maintenance Contractors’ »