Contractor looking to flip in Georgia

[James Adair]

Hey guys/gals, I own my own contracting company in Georgia and work mainly in the Gwinnett co. and surrounding areas. I figure I should have a leg up on the industry considering I do all the rehabbing stuff everyday and already have a great list of subs we work with. I've heard it said to find others that are doing what you want to do and find out how they did it. So, Is anyone local to the Gwinnett area that does flipping/rehabbing that would be willing to help me get my feet wet in buying and flipping my first deal?? 

I've already got a lawyer, title company, plumber, electrician, and great hvac guys I trust. I just need to know who/where to get started buying my first property and a good real estate agent that understands how flippers need to market. Any help would be much appreciated, thanks!

[Luc Boiron]

@James Adair It sounds like you've already found some great people to speak to. 

As a flipper in a different market than yours, I would give you some additional advice:

You make money when you buy. I know everyone says this, but it is true. I manage renovations on my flips, but the money is made when I buy right. I always say that I make the money when I buy, and then all I need to do is not screw up the renovations and the sale. If you buy poorly, it's very difficult to make up for it by renovating very well.

Also, when you run numbers, make sure you include the cost of any work you do. You need this to work as a business, so if you were to pay a contractor fair rates, you would still make money. If you would break even paying a contractor and you are only profiting because you can do the work yourself, than you are simply buying yourself a job.

You are in a great position with the knowledge you have. Treat this like a business, and you can do very well. Good luck!