Saturday, December 21, 2013

How To Find The Right Painter!

A Real Estate Investor can quickly add value by painting the exterior of a distressed property. If you are like us, hate painting (long story), we hire someone.

While painting to add value to the distressed property, dealing with contractors are going to be one of your biggest headaches. Last year over 3,000 complaints and lawsuits were filed against painting companies in South Florida. Remember, you get what you pay for!

Below are questions you need to ask to protect yourself and guarantee the paint job is without unpleasant surprises!

Here we go:

    • Do they have an insurance policy with an insurance company or are they "self-insured"?
      • Very few moving companies carry genuine insurance. All other painting companies are "self-insured" even though their advertisement might say that they are "insured for your protection".
      • Estimate should include FREE full-coverage insurance - up to $10,000.
    • Are they bonded? If they are, it should be on their "Certificate of Insurance". Most companies are not bonded. Don't accept any excuses why they are not. You won't be protected.
    • Is the company a member of the Better Business Bureau?
      • If so, call and request a report of their standing.
    • Will they provided you with 3 current references upon request?
    • Ask for two comparison quotes.
      • Get one quote based on your entire job.
      • Get a second quote based on a calculated "real-time" hourly rate.
    • This way we are assured to always get the better price!
  • Do they subcontract their work or perform it themselves?
    • We hired a paint contractor and he subcontracted the job. Job was finished and we paid the contractor. Found out later the contractor never paid the subcontractor. Be careful because you may be liable to the subcontractor.
  • Do they offer written guarantees of their work?
  • What products do they use?
    • Type of paint and sheen, stains,...
    • Are they environmentally friendly?
    • Types of brushes and rollers.
  • Are they specific by providing in writing the job specifics? Like:
    • About which surfaces you want to have painted (walls, trims, moldings, ceilings, etc.)
    • The paint colors and finishes you want used.
  • Do they provide a written contract?
    • Review it carefully.
  • Dis and re-connect of items as a result of painting?
  • Provide references upon request?
    • At least three.
Painting can be a tedious task and as a homeowners and investors ourselves, we understand the concerns and worries that come with it.

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Written by +Bob Burns.
Bob Burns at MREIA meetingWhy so Serious?
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+Real Estate Investor
Tel: 305-586-5280

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