Being My Own General Contractor

[Kristyn Grimes]

I'm looking for my first BRRRR property within an hour from my house. I'll be budgeting for PM but managing myself for now. Prospects I've seen might need new roofs, floors, siding/paint, maybe plumbing and electrical. This REI journey is my main thing in life right now. I've recently accomplished some other life goals and my husband does well enough that now I can focus on growing our portfolio.

In short, I have all the time in the world to schedule bids from plumbers, painters, etc. without using a GC when I get to something I don't know how to do. I'll have clear written objectives for them and need clear written details of work being rendered from them, along with a laundry list of things I've gathered from other BP investors tips. I'll have the ability to go check on progress everyday because, let's be honest, that's just the control freak I am. I figure this will give me an idea of when to schedule the next tradesman for the next project.

Questions:

1) Would this method be less cost efficient in any way as compared to using a GC? I have an idea why it might be/not be but not sure of my line of thinking.

2) I think I may have formulated this plan after witnessing the overpriced and underwhelming work my mom got on her top to bottom recent reno. I also probably listened to a few too many "horror story" podcast episodes and freaked myself out. Has anyone gotten fed up with GC shenanigans and done this piece-by-piece method on their own successfully?

Any insight would be appreciated.