Verify and Don’t Trust

Finding a good contractor is half art and half science.  For some real estate investors, they operate on their gut.  If they like the contractor or get a good feeling about him or her, they will pull the trigger.  Other real estate investors spend a lot of time looking through their references, inspecting their tools, looking at their vehicles and running information on the internet.  A few investors simply hope for the best.  Whichever way you use, once you hire a contractor, the checkout process has really just begun.  Founder/Managing Partner Lamar Hunt Jr. offers this advice, “We respect all of our contractors but until we really know them, we do not trust them.  That means no cash advances and no payment for work in place until we inspect it.”  The staff at Loretto Properties know these rules and are constantly watching the new contractors.  James Arkell often goes behind them checking on their work after they have left for the day.  This gives him a way to match up what they tell him on the phone versus what he sees at the house.  The bottomline is that until you know someone, you really don’t know them.  For more real estate tips about contractors, see our blog at http://lorettoproperties.com/ or you can also call us at 913-236-2902 if you have property to sell.