Any women doing fix n' flips?

Question

Women, what's been your experience with flipping?

I'd like to get started with flipping, but I'm a bit afraid of how most of the people I'll be interacting with are men. How do you get taken seriously/take authority as a woman?

Thanks for all of your responses!

Mindy Jensen · Answer

Radhika M., there are plenty of us who flip. And you'll find plenty of contractors who hassle you because you're a woman. You'll also find enlightened contractors who will be happy to work with you.

Don't pretend to know what you don't know. Ask questions until you understand the answer. Be firm - if you have a deadline, make sure they know that it is not flexible. Be understanding, but quick to fire if their performance goes south.

You'll find a lot of really bad contractors out there, so if you locate a good one, thank them and be quick to pay. If you can find someone who does great work, keep them.

Will F. · Answer

Radhika M.

So I'm in Long Beach and I met up in person with Radhika the other day.  She's a bright intelligent driven person so I'm positive she'll do well in REI.

First off, there are so many bad contractors, and if you get into sub-contractors/day workers/handyman-type-- man some of those guys are really gritty and rough.  I think a lot of them will make assumptions or judgements about female investors especially if they sense you are new.  That being said you could probably find a contractor you know or can network to find someone reasonably trustworthy.

The problem with LA is you really have to squeeze a lot of margin out of construction, so if you go with a really polished (expensive) contractor you can lose out on any profit.

She saw a duplex we're fixing up and met my construction workers.

What did you think of meeting these gritty workers? ;-)

Donna Robinson · Answer

Welcome Radhika M., I am also from Brooklyn and flipping in the Hampton Roads area.

We should all connect and keep each other up on progress.  Can also be motivation for someone else that may think she is the only one having those issues.  I find that most, if not all, (regardless of gender) are very friendly and willing to help here.

Good luck

Christina L. · Answer

Radhika M. I don’t fix n flip but I do project manage the cap ex work/renovations on apartment complexes. I think it’s about a) how you carry yourself and b) taking the time to find the right contractors before you ever get started. Be appreciative of and collaborate with your contractors, but be absolutely clear about your (high) expectations. Require regular status meetings - I hold mine once or twice weekly depending on the scope of the project - where they come prepared to give you an update on work performed to date, as well as where things are at from a budget and timing perspective. Note here: I actually request their calendar/action plan in writing and we go over it together at each status meeting. If anything is falling behind, I’m clear  that I need to be alerted immediately rather than being told at the next status meeting. In cases where issues like that pop up - and they always do - ask that your contractor explain how it happened, as well as offer some solutions to get back on track. It’s helpful to have one lead contractor who is accountable to you, and that person be the one who oversees the rest of the construction crew. Interview contractors first to make sure they will (happily) agree to this type of arrangement before hiring them. Hope this helps. Best to you!

Chris Mason · Answer

My favorite flipper is a woman.

You wouldn't know it when you see her in her out-and-about attire. Then you see her pickup truck: "Oh, now it makes sense."

The fact that she can swing a hammer, and then contractors seeing what she's already done on her own before they show up, I think helps her out a lot with those guys.

She's always sending me crazy scenarios and asking if I can do it or if she needs hard money. Sometimes it's funny ("What if it doesn't have a roof, but we have a really good tarp held in place by 2x4s?"), but even then it makes sense to check juuuuust in case to try and avoid 35% down @ 12% rate and such. And sometimes she asks a good one - "you need it to have a fridge, right?" - and the answer is that, "actually, we can do it without a fridge."

No job other than the flipping/landlording/etc stuff. Her taxes each year are always a 3 way conversation between her ("I don't want to pay taxes on that!"), me ("...but you need qualifying income..."), and her CPA ("guys, stop trying to commit tax fraud. Here's the compromise solution"). Checks and balances, as it were.

Tiffani Baggett · Answer

I walk in very "Bitchy" lol. I did it today on my contractors. So far they are actually more helpful.

Alison Decastro · Answer

I am currently working on finding a good fix and flip in my area.  I will defiantly keep you girls posted!   @Tiffani Crenshaw,@Mindy Jensen,Radhika M.

Brian Stephens · Answer

I'm a dad with 4 daughters, spent most of my time in male dominated work environments (military and warehousing), so I'm reading this thread with great interest.  I would think that if you carry yourself professionally, others should react the same, regardless of your gender.  Be yourself.

I would like to think that, but I'm betting women find a tougher path in this investing environment.  I guess I don't have a point, just that I hope the playing field is equal.  Well, it is in my house anyway.

Radhika M. · Answer

@Will F. You & the contractors seemed pretty friendly! The grittier contractors I've worked with in the past have been pretty friendly as well. At least in regards to internal renovations -- they are sometimes even more open to the woman taking charge because we're presumed to be more in-tune with style.

This thread is pretty interesting -- thanks to everyone for sharing their experiences!

Kerry Baird · Answer

I've done a number of fixers.  We're currently updating a house as we are living in it, so a slow-motion flip, to include kitchen, bath, flooring, paint and roof.

Any women doing fix n' flips?

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