Hire a Project Manager or not?

[Krystyna Schexnayder]

We are in the process of finding our first flip deal, and we were wondering if it is necessary to hire someone to manage the vendors. For example, manage the construction workers, scheduling work to be done on the property, etc?

[Aaron Stuiber]

If your daily work / life schedule doesn’t permit the time needed and also if your skill set does not revolve around setting up contractors then yes. This is inevitably going to cut into the bottom line, but usuing an experienced project manager for your first project is going to teach you valuable lessons instead of having to learn the hard way. 

Make sure to throughly vet the manager and have detailed conversations regarding expectations and overall compensation. Coming in with the capital you hold majority leverage, but having them find the needed workers (preferably contractors he currently works with) is going to be extremely time consuming. 

Check for investor FB groups and REIA's in your local area to speak with professionals actively working on projects that you can meet and potentially work with.