Long distance flipping

[Mario Martinez]

Hello BP family!

I recently completed my first flip in the Philadelphia area and learned many valuable lessons! I am on to my second one but my question for any out of state investors are what advise you can give on getting the most value out of your contractors. I have a good contractor right now who kind of acts as a project manger since I am over 100 miles away and only have time to check on the project two times a week. I pay him a daily rate but there are times during the project where I feel things stall ( waiting paint to dry, framing) Would any recommend outsourcing different  projects for more value and quicker turn around?

[Bob S.]

Quote from @Mario Martinez:

Hello BP family!

I recently completed my first flip in the Philadelphia area and learned many valuable lessons! I am on to my second one but my question for any out of state investors are what advise you can give on getting the most value out of your contractors. I have a good contractor right now who kind of acts as a project manger since I am over 100 miles away and only have time to check on the project two times a week. I pay him a daily rate but there are times during the project where I feel things stall ( waiting paint to dry, framing) Would any recommend outsourcing different  projects for more value and quicker turn around?

 Daily rate 1st mistake, nothing upfront, EXPECTIALLY NOT daily. I do about 150k a month in reno/ repairs, in the Cleveland markets all while living on the beach in FL, you just need to build a trusted team. You pay for materials, have them do the work, pay them a draw. Then again material's another draw. Final upon live video walk through NOT photos. 

All the best