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?