Zack Childress co-wholesaling is useful when his tips are applied at appropriate times. When you do the course on real estate investment, there has to be a practical application to which cannot be taught in any of the learning centers. There are lots of ups and downs in this type of business. However, it is very much rewarding when it clicks.
Home Improvement Scams
There are times when your house becomes old and you would want to do co-wholesaling but people would not be interested in buying the property as it is old and outdated.Home Improvement is an answer for that. However, when you hire someone to do the work, you need to be careful whether the contractor is genuine or whether they want to extract cash from you. The scammers usually target the old and damaged houses. They use low quality roofing materials and cheap paint.
Some of the Do’s and Don’t are as follows
Before you work with that person, take the company information from them and tell them you will get back to them if your services are needed.If the contractor comes without the company vehicle and the phone number, do not even entertain them.
Research about the company
Before hiring the person to do your work, you need to check out the rating and complaint history of surfing about the organization or approaching the Better Business Bureau.
Consult with the people you trust
If the company has newly started, the best thing is to ask your relatives, friends, neighbors or your legal advisor before proceeding.
Find out the contractor’s background
Background checking is very critical these days to protect yourself from the scams, frauds, thefts & damages. Ask for the proof about company license & bond which provides compensation to the workers in the form of insurance. Additionally, take the references from the previous companies they have worked.
Study the contractor’s business card
Make sure that the contractor’s business card has a complete address & an office telephone number. To be on a safer side, take his mobile number too. You should not trust P.O Box number & answering machine.
Get a contract
Insist on a written contract that has a list of tasks to be performed, like costs, materials that needs to be used, start date, end date and warranty about products and installation. Read the contract before signing it.
Be wise about the payment
Pay only 25 to 30% as an advance before they start with the work. Do not make the final payment unless the work is satisfactorily completed. Also make sure that you get a lien waiver, stating that payment is being made to subcontractors & supplies. Use either check or credit card for making the payment. Avoid paying by cash.
These are the preventive measures to safeguard yourself from these scams. However, if you become a victim to this scam. Try out the following measures to track them.
Try to track them through the mobile number that they had given you. Also visit their office. If you are not able to find the fraudster, try to locate his residential address.
If you are unable to locate them, you can go to the local police station or Attorney General or the Consumer Federation of America.
See More: Home Improvement Scam Tips