It takes a certain kind of creativity to see a “broken” home’s potential, but it takes a whole lot of real people working long hours and under less than ideal conditions to put those sticks and bricks back together. If you dream of flipping houses for fun and profit, building your contractor team is a vital part of the recipe for success.
|Disclaimer: We strive to provide objective, independent advice and reviews. When you decide to use a product or service we link to, we may earn a commission.|
Building a system
If you’re a “big picture” person, there are lots of tools that can help you with the flipping process. You can use software to develop a timeline, prepare a cost estimate, manage expenses, track orders and deliveries, and even to list your property once it’s ready for sale. But when it comes to hiring contractors, you’ll have to rely on gut instinct, reviews, recommendations, and your ability to judge people.
Dealing with the variety of trades, subcontractors and suppliers, building inspectors and officials requires the concentration of a juggler and the patience of a parent with teenagers.
1. What is your experience and how much remodeling have you done?
“Re-building” or remodeling, regardless of the scope of the project, is totally different from “ground-up” construction. Anyone you choose should be familiar with general construction principles, but must have remodel experience.
The first rule of renovation is to expect the unexpected. It’s especially nice if your plumber’s best friend is an electrician, or if your framer has a brother who can set tile.
When interviewing a contractor, ask about their secondary skills, experience with renovations, and recommendations from other tradespeople.
2. Tell me a construction story about the worst job you have done
There’s a purpose in this. You’re looking for honesty and willingness to admit fault. You don’t want to hear that there hasn’t been a bad job. Having something go wrong in a renovation project is normal — every contractor will have a horror story.
You want to work with people who have learned from those experiences and can tell you how they will avoid those issues in the future. You also want people who will be honest about their work and give it to you straight.
3. Final questions
Ask about their insurance, general liability, theft and hazard, and workers compensation. The answers are important. You need to know you're working with a professional who knows the ins and outs of their business and is covered for losses or accidents.
Want to protect your investment or offer a warranty to entice potential buyers? Home Choice Warranty has a variety of options to make sure your home is covered from unexpected repair expenses.
Flipping homes for profit takes vision, persistence, cash, and a reliable system. But making a better home for a real person or family is a very rewarding achievement. Use this guidance to make sure you have the right team on your side before you tackle your next flip.
Did you know that 41 states and Washington D.C. allow cash rebates after closing? Our friends at Clever Real Estate can get you 0.5% cash back, just for finding a qualified local realtor through their network. Meet your agent matches today!
🏡 Earn cash back when you buy a home
Did you know that 41 states and Washington D.C. allow cash rebates after closing? Our friends at Clever Real Estate can get you 0.5% cash back, just for finding a qualified local realtor through their network.
Meet your agent matches today!
Ready to sell?
Once you've completed your renovation, click the link below to connect with a top agent in your area who will work for a discounted rate but still provide full service. It could save you thousands!
Interested in buying or selling?
We've improved the traditional real estate model with modern technology to cut costs, not quality.Get started today
Posted in House Flipping
- Selling a House (205)
- Moving (106)
- Buying a House (99)
- Real Estate Investing (66)
- Preparing to Sell Your Home (48)
- Home Improvement (42)
- Listing Your Home (28)
- For Sale By Owner (27)
- Real Estate Negotiations (27)
- Investment Property (26)
- Mortgage (20)
- Homeowner Advice (19)
- Marketing Your Home (19)
- Closing on a House (16)
- Personal Finance (16)
- Escrow (15)
- House Flipping (14)
- Home Value (13)
- Home Showings (13)
- Home Inspection (10)