People who flip houses for a living or a side income understand that their properties must be structurally sound. Unfortunately, they often overlook the importance of attractive interior design. In an industry as competitive as real estate, working with a quality decorative contractor can help set properties apart so they sell faster. We provide several tips below on how you can do just that. After all, every Chip needs a good Joanna.
1. Start by Checking Reviews
Any decorative contractor can claim to be the best in the business. Before you consider hiring a company to decorate your investment property, devote some time to research to find out for yourself. The simplest way to do that is to search the company and look for online reviews from sites such as Google, Facebook, and Yelp. These all use a one-star to five-star rating system and allow reviewers to add comments if they wish.
You can also check out a report from the Better Business Bureau. The BBB rates businesses with letter grades from A to F and lists customer complaints against a company. When searching online, look for photos of past projects completed by any company you’re considering hiring. This is often your best indication of the type of quality you can expect when working with the decorative contractor yourself.
2. Ask for Referrals
Keep in mind that a fully independent contractor may not have a profile with the BBB or many online reviews. However, you can still ask for referrals from past customers to gauge the quality of their work.
When speaking to a person on the referral list, be sure to ask if they would hire the same decorative contractor again. People who felt satisfied with the work of their contractor won’t hesitate to enthusiastically answer yes. You can also get high-quality referrals from others in the real estate community.
3. Verify Credentials
Although most decorative contractors are honest and hard-working, technology has made it possible for some to fake their credentials. To protect yourself, research which local agency handles registration and licensing.
You can then call it directly to confirm that the company you want to hire has the proper license and other credentials required by your state. Never consider doing business with an unlicensed contractor as it leaves you with no protection if his or her work doesn’t meet your expectations.
4. Ask for Their Plan When Receiving a Quote
Contractors should always offer you a free quote with no obligation to hire them. This gives you the opportunity to compare quotes and qualifications among several contractors. The quote should indicate a budget for the work, details of each job, estimated timeframe for completion, and the down payment requirement. Most contractors ask for 10 percent down before they begin working. Be sure to ask additional questions about how the contractor plans to complete the work to ensure you have a similar sense of style.
5. Beware of a Cheap Bid
A low bid can save you money initially but cost you later if the contractor cuts corners and does a poor job. However, that doesn’t mean the highest bid is automatically the best. Choosing a middle ground between affordability and quality is usually your best bet. When reviewing estimates, make sure the contractor you choose provides details on how much each aspect of the work will cost.
You Don’t Have to Be Design Savvy to Earn a High Profit
While the interior design of your property can determine how fast you flip it, you don’t have to do the work yourself. Hiring an experienced interior design contractor can make all the difference. Don’t have the cash flow to do that right now? Sherman Bridge can help. We invite you to review our services page and then contact us for an initial consultation. Just like it is important to find the right contractor, you’ll also want to spend time finding a lender that will meet your needs and support you through the process. Sherman Bridge has an A+ rating with the Better Business Bureau and has helped thousands of satisfied investors fund their projects and build their real estate portfolios.