Musings from a first time flipper

[Timothy Gleason]

In the midst of my first flip- a modest block home in a great rental area. 1200SF, sunroom, 3/1. The home was built in the 50's, never updated, same owners for the last 50 years. 

SOW: new roof, retrofit central air, add a full bath (slab foundation), new kitchen, floors, remove & reinstall ceiling, upgrade electrical. I'm acting as GC, managing the major subs (roofer, plumber, sheetrocker, painter)

Some of my observations that I didn't foresee in all my reading and research leading up to this:

- Handymen NEVER call back. 

- Small jobs are more frustrating than the bigger jobs.  Ex: getting an attic access reframed, adding a GFCI circuit, Demo existing cabinets, etc. All these are so small, it really doesn't make sense to get a specialist - actually easier to just do it myself...unless I could ever get a handyman to call back...   Even then, the multi step process of site visits, bid acceptance, and actual work is so lengthy...I just do it myself. 

- Deciding on the limits of demo is an iterative process, but it shouldn't be. Clearly experience will tell a seasoned investor how much to demo...but its hard to trust yourself as a newbie, so it therefore becomes iterative. 

- Doing anything part of the project is tool-intensive. I am fortunate enough to have acquired a ton of tools over the years, but I remark at how much I've used for the general small tasks I've taken on (framing, demo, electrical, tile removal)

- Cutting corners ALWAYS burns you. I tried to short-change the HVAC closet dimensions...had to reframe and wasted my HVAC installers time. Lesson learned.  

- Know the code. Toilets have a minimum offset from side walls...who knew?!  I did after I had to pay the plumber to rework the toilet rough in (after I already concreted his work)

So...what are some of the lessons you've learned the hard way?

[Dawn Anastasi]

I have gotten to know the "handyman don't call back" one when I was looking for those type of contractors.  What happens is that they will answer the phone when they are looking for work, then they get some work, and they ignore everything else until they need work again.  It's like they don't think ahead to the future and get jobs lined up; they just go from job to job.  The good ones do schedule things out and that's how they stay in business. But they are harder to find!