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Updated over 11 years ago on . Most recent reply
Contractor/Investor advice
It seems many ex contractors go in to flipping with the idea, like mine, that you can really save profits by doing most of the work yourself. My question is to all of the contractors that have converted to full time investing. I don't want to know what you do in your business now. I want to know what you did on your first 1-5 flips as far as how much of the work you did yourself.
I have 15 years of full time plumbing experience. I have almost 10 years of demo/carpentry experience.
From the actual contractors out there.... What is your advice to a person that CAN do most of the work?
Use your arms or your brains? I can paint a house even though I am not a painter. I can make it look just as good although I know for a fact I can't do it as fast as an actual painter.
What did you guys do at first and more importantly what did you learn from doing it all?
Most Popular Reply
Wow it is actually funny because you are the reason for asking this question. Yes after hearing your podcast I want to be the you in my area. I agree with you totally I want to be an investor and not a contractor. My question is for those first few deals that make you or break you, what is the answer? What did you personally do on your first 1-3 deals. I can't give biggerpockets a better plug! I heard J Scotts podcast, jumped on here and asked a question and wow J Scott answered in less than 5 minutes! Love this place!
after the praise.......I am a contractor now. I want to be an investor. I know the end answer. Now I have to contract to pay my bills and do this on the side. How does the transition happen real time? Like I said even as a plumber I want someone else to do the plumbing and it make money, however as a contractor I know my downside.......I am going to have a landscaper quote me 1500 dollars and in my head I am going to say forget that! I can do it for 700. I know this will be my biggest problem and am looking for advice to know when to take the bid and when to leave it from people that have that choice.