Honesty & Rehab Costs

[Joey Hamaoui]

Hey everyone,

My partner and I are looking at getting into flipping houses. We've done minor rehab projects for rental properties but now we're looking to get into flipping homes and I wanted to ask two questions to the BP community. 

First how can I keep costs down while still paying the contractor an honest wage? We're not looking to cut corners or get a rehab done for free but we are also aware that many contractors overcharge a lot. What advice to you guys have on getting contractors to do good work at an honest price when just starting out?

Second is do you recommend we bring GCs out to estimate the whole project and compare or should we bring out subs for each part of the project (e.g. flooring, roofing, kitchen, painting)? 

Thanks,

Joseph