West DFW REI Group

The "Watering Hole" for North Texas Real Estate Investors!


West DFW REI Group

Nine Tips for Finding a General Contractor You Can Trust


General Contractor 

You're not alone if you've ever been in a difficult spot with a general contractor. Here are nine suggestions to bear in mind while you look for a general contractor you can rely on:

1. Insist on a license - This ensures that you receive important consumer protection, such as insurance requirements. Every state mandates that anyone or any business providing home improvement services inside the state must hold a state board license. The purpose of licensing is to make sure that those delivering contractor services are competent to do so and have satisfying additional criteria, such as passing criminal background checks.

2. Ask for referrals - Ask for referrals from people you trust. The best marketing is word-of-mouth, whether you are the consumer or the business owner. WOM marketing is among the most effective kinds of advertising since 88% of consumers prefer suggestions from their friends rather than those in traditional media.

3. Check with your local authorities - Check for any records of complaints or license suspensions. Verify the contractors' licensing status and any pending complaints by contacting TDLR or the Texas Department of Licensing and Regulation. Also, research the standing of the business. Although you must pick the contractor, some insurers may provide a list of qualified mold specialists.

4. Use a general contractor - General Contractors are more credible due to their licenses and frequently offer insurance to their subcontractors. When subcontractors threaten to quit your project without being paid, a good general contractor will always have the cash to keep things moving. General contractors are more committed to finishing your project on schedule and within your budget.

5. Get multiple bids - Always get multiple bids to determine a fair pricing range before selecting the company you plan to use. One of its main benefits is the potential for a better price for you in a multiple-bid situation. You might be able to increase the price of your transaction by starting a bidding conflict between interested parties. Second, involving many bidders gives you, the seller, the upper hand, and you may find a contractor offering a better product or service for the same price.

6. Don't automatically take the lowest bid - The lowest bid might be cutting corners regarding purchasing materials, hiring undocumented labor, or denying their staff workers' compensation. The practice of "suicide bidding," in which a business purposefully submits a proposal for less than it will cost to do the work, is another consideration to keep in mind while assessing cheaper offers. When this kind of bidding goes wrong, everyone involved suffers from unfavorable outcomes such as subpar construction, subpar service, numerous disagreements, and a contractor who might not be able to pay their bills.

7. Avoid paying for bids - Reputable contractors might obtain work without demanding payment simply for considering your project.

8. Get insurance documentation - At the very least, you should have general liability insurance, contractors' liability insurance, and workers' compensation insurance. Additionally, confirm that the coverage amounts are enough. Numerous types of insurance are available to protect property owners, developers, and contractors during the many stages of a building project. Many projects call for certain kinds of construction insurance plans.

9. Consider a surety bond - A surety bond is a legal agreement between three parties—the principal (you), the surety, and the obligee (the organization requesting the bond)—in which the surety provides an obligee with a financial guarantee that the principal will follow the bond's rules.

10. Last but not least - Think about hiring a property manager whose knowledge and experience will be crucial in making important choices.

Call the office of the West DFW REI Group at (817) 599-8058, and we will be happy to assist you in determining the best way forward to help you get started. Fill out our website contact form to fast-track the process and give us details about yourself. We'd love to hear from you and assist you in finding the best solution!

The West DFW REI Group is a Veteran-owned and run business and has been helping investors across the DFW Metroplex since 2009 take their business to the next level. Google West DFW REI Group to see what others say about our group.

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