Never Accept a Contractor Bid Without These 4 Things

🤝 Join hundreds of us in the FREE Solo House Flipper community, including free tools and courses: https://solohouseflipper.com/skool-yta 🏠 Get a DIRECT house deal under contract in 90 days with a program built for investors: https://homebasemail.io/deal90-yta A formal contract does not fix a vague contractor bid. For the small residential flips and rentals I work on, I want four things in writing: a hard price, a clear scope of work, a realistic timeline, and payment checkpoints tied to completed work. I break down fixed bid pricing versus cost plus, how I document a walkthrough with video, why I keep the bidding process low-friction, and how I structure payments so I am never ahead on labor. This is the practical system I use after 17 years and more than 300 flips. This is not legal advice; it is how I personally manage contractors on small residential renovation projects. ⏱️ Chapters: 00:00 - What a Contractor Bid Actually Needs 02:54 - The 4 Things Every Bid Needs 04:12 - 1. A Hard Price 05:08 - Why Cost Plus Usually Fails 08:52 - 2. A Written Scope of Work 10:06 - Record the Walkthrough 11:54 - Why the Text Thread Is My Contract 13:29 - Get the Bid Without Killing the Deal 16:02 - 3. A Project Timeline 16:25 - 4. Payment Checkpoints 19:03 - When a Contractor Wants Money Up Front 21:19 - Build Authority and Hire the Right Contractor #HouseFlipping #RealEstate #SoloHouseFlipper #Contractors