Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago on . Most recent reply

Are any serious investors self-performing their rehab's?
I've spent the last two years remodeling our 1912 craftsman bungalow home. This process has done two things. One, help me discover I love carpentry. Absolutely love it. I grew up a farm kid and have spent the last 10 years in an office doing sales/marketing. I enjoy and miss hard work and the process of working with my hands. And two, it started my curiosity for real estate investing and sent me digesting everything I could about the real estate game for the last 18 months. As we all know, BP is fricken awesome and authentic in their education.
In two weeks I close on my first real estate property (picture below). It will be a buy and hold that needs a lot of work. I estimate $7-10k of rehab. (I have been using J.scott's estimating rehab costs book). Everything I read says that it is best find a good GC and hire out all the construction. Being a businessman I understand this logic. Delegate out what you are not good at (or can be easily hired out) and work on scaling your business.
But is anyone on BP self-performing their rehab's? As in having a tool in hand doing 50+% of the work themselves and hiring out a few trades (plumbing, HVAC, carpet, painting, basic demo help).
I should also note I do not like my job and plan to leave in the next year. I have debated starting a remodeling company or just self-performing my own flips for cash flow.
Would love to hear your feedback BP!
PD
Most Popular Reply

@Preston Dahl , I'd love to be able to hire everything out, but it boils down to finding good contractors. I'm a PRO at finding bad ones. You want someone unreliable who will drop the ball at every turn? I excel at finding those guys.
I have yet to figure out how to find reliable guys who show up every day and do a good job. So I turn to my husband and me, and we get it done on time, on budget and right the first time. Fast? No. But right, which is worth more to me.