Powered by MOMENTUM MEDIA
research
1 minute read

How to avoid a bad builder

How to avoid a bad builder

by Sasha Karen | April 26, 2017 | 1 minute read

Despite doing as much research as possible, some builders are not always what they appear to be. Here’s how one investor survived a terrible experience with a builder.

April 26, 2017

When renovating a new property, property managers need to ensure they hire the best person for the job. However, dodgy builders can sometimes slip through the cracks.

Speaking to Smart Property Investment on The Smart Property Investment Show podcast, investor David Shih said property managers need to stay vigilant in order to detect scam artists.

Mr Shih said he had met a builder in person several times and they had established a rapport ahead of a $25,000 renovation. But the builder vanished after receiving a $4,000 deposit, leaving Mr Shih shocked and out of pocket.

“I could not track him down at all. I spent over a year,” he said.

Advertisement
Advertisement

“I signed a work order, I sent it to him. We agreed on the start day, then I was never able to reach him again.”

Even the builder had provided examples of his work and had come recommended, Mr Shih said he should have checked his licences before hiring him for the job.

When stung by a scammer, Mr Shih recommends notifying Fair Trading and the police.

In order to avoid getting scammed, property managers should always “do your homework”.

Hear more insights from Mr Shih on The Smart Property Investment Show podcast HERE.

How to avoid a bad builder
nestegg logo
share the article

Subscribe to get the latest news and updates - join a community of over 80,000 property investors.

Check this box to receive podcast updates

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.