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Updated over 7 years ago on . Most recent reply

Account Closed
  • Aberdeen, NJ
9
Votes |
41
Posts

doing a flip while working full time

Account Closed
  • Aberdeen, NJ
Posted
hi all in the BP universe! I just purchased my first condo, but I don't want to stop there. I work full time and I am out of the house almost 10 hours a day. I have been reading about flipping and HMLs. I am from monmouth county, NJ, grew up here, I know the area pretty well. I want to start my investing career but since I have little to no money from my recent purchase I was looking into a HML to rehab and flip. one of my many concerns of many ,are over seeing of the rehab if I were to purchase this particular property. like I mentioned I work full time and I spend about 10 hours a day away from the house, I work from 7am to 330pm and I get home around 430 5 depends on traffic. the same time I work would.be the same time the contractors would be doing their work on property. is there a way around this? hiring a property manager or project manager for over site? asking family? any suggestions would be greatly appreciated! regards, Stephen

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

@Account Closed , don't pay them hourly. Pay them by the job. You give them a scope of work, they tell you how much it will cost. 

Getting paid hourly tends to make the job stretch indefinitely.

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