Bringing on Design Partner

[Ron Hollingsworth]

I am considering bringing on a design partner after having graduated from lower end flips to million dollar flips.  The lower end flips are easy to design and source material, mostly cheap RTA Shaker cabinets, LVP, etc.  on these higher end projects it’s been pretty difficult for me.  

I think bringing a design expert to run through these properties with the contractors and put together the design based on a specific budget would be a good idea.  They would also be responsible for sourcing materials.  
Maybe for a split of the profits, say 10-12%.  These higher end homes I’m averaging around $100,000 profit. 

 What are your thoughts?  How would I go about finding someone like this?

[Shawn Parsh]

Ron

I think it is always good to add professionals to your team. If you have a gap in a needed skill you should find someone qualified to fill it. I like your plan to tie the effectiveness of the designer to the bottom line. 

[Ron Hollingsworth]

Quote from @Shawn Parsh:

Ron

I think it is always good to add professionals to your team. If you have a gap in a needed skill you should find someone qualified to fill it. I like your plan to tie the effectiveness of the designer to the bottom line. 

 If you were looking for someone like this, where would you look to find them?

[Shawn Parsh]

Personally I think I would look at one of the Universities that have a design program. I'm not sure which ones are in your area, but you likely could find someone that has skills in their Junior or Senior year. That way I could likely get the work done for less and hopefully build a long term partnership with someone that is looking to get their foot in the design world. Having said that, I have never hired a designer for any of my properties so maybe others with experience will chime in. My wife always tells me what looks good and I'm smart enough not to argue. I can't cook and I like to eat. 

[Scott Mac]

One way might be to talk to some of your past customers, and ask them what features attracted them to the house, and what features they found neutral, and what features they wished were different.

If it were me I would focus on speaking with the female of the family mostly, but also get the man's opinion.

Another question might be what features were neutral, or made no difference in the decision making to buy.

Good Luck!

[Bill J Fay]

A designer is a great partner to have when getting into high-end properties in your market. You are leaning away from the typical design to attract the widest buyer pool and now getting into a niche buyer pool that will be picky for all the right reasons. A designer should help you pick out the correct scheme and also help source these as well. I would make sure your RE Agent has experience listing high end properties. This Agent should have multiple designers in their book of business.

[Ron Hollingsworth]

Quote from @Bill J Fay:

I would make sure your RE Agent has experience listing high end properties. This Agent should have multiple designers in their book of business.

I am the agent.