Choosing a crew can be one of your biggest tasks while flipping real estate. The people you work with determine how much time and money you’ll be putting into rehabbing properties. It’s worth taking some time when deciding who you’ll hire and who you want to work with. Here are a few tips to help you choose a crew next time you’re flipping real estate:
- Do it yourself. You can do a lot of the work towards rehabbing properties on your own. From cleaning up a gross bathroom to plastering walls, many tasks can be done by yourself. Of course, you’ll have to spend more time (and put in more elbow grease) doing it yourself, but you’ll save money if you can avoid hiring somebody to do simple things for you. Plus, part of the fun of flipping real estate is getting your hands dirty.
- “Family and friends” discount. You may be able to convince your family or friends to come help you on your next flip. They may be willing to work for less money (or even for free – you’d be amazed at how far the offer of a pizza goes), so you can save. Of course, any time you get your personal life involved, you need to be careful – a poorly-done patch isn’t worth losing a friend over.
- Get a partner. If you have a partner investing in the flip, chances are they’re already doing work around the house. Make sure you’re both happy with the amount of work you’re putting in – if one person feels overworked while the other person doesn’t want to spend too much time in the property, you may run into issues down the road. Of course, the best part about having your partner help out with your flip is that they’re financially invested just like you, so they’re sure to do a good job.
- Consider contractors. For the jobs you just can’t do yourself, find a decent contractor. Remember, hiring somebody just because they’re cheap may cost you money down the road, so check out their credentials before you commit. Make sure you get quotes and spend some time considering your choice before you sign any contracts. It’s also worth keeping in mind that even though you’re hiring contractors, you’ll probably still need to be on the property to answer any questions and make sure everything is going according to plan.
If you’re interested in rehabbing properties or flipping real estate, you’ll eventually need a crew. Choosing the right people for the job can save you time and money, so make sure you pick your crew wisely.
