Question about Managing a Flipping Project

6 Replies

Hello,

I was interested in somehow finding a house flipper who needs help managing flipping projects, as in dealing with contractors, making decisions on small details, managing budgets etc.. my current career is outside of real estate (and is pretty lucrative) However I enjoy Remodeling projects and have overlooked many for friends and family. I would be willing to do this for free the first few times just to learn some more.

How do you suggest I find and contact house flippers in the San Diego area? Or just in general. Appreciate any feedback. 

Ross

Hi @Ross D. , welcome to the BiggerPockets forums!  As I think through my own flipping business what I can tell you is that 1-2 projects at a time is simple to manage, but once I got more than 3 going simultaneously, along with my other work, I needed help.  

Zoom out to the bigger flippers who are doing 7+ at once-->they've usually got their procedures and systems in place and there's less value to be added compared with the "switching costs" the flipper would view a new manager as.

Following this reasoning I'd say a "sweet spot" approach would be to find people who are flipping 8-20 homes each year and get to know all of them.  Look for ways you can add value in your meetings with them and then do it.  Let them know that you would like to earn a job with them as their project manager and then go win that job with follow-thru!

Best of luck, Ross!

I manage a lot of turnkey projects. But we are in Memphis. 

You'll learn from experience and you'll learn from others.

All the best!

I'm not sure in your area. But you can go directly to flipper/s since you want to learn flipping/rehabbing by experience. 

@Ross D.  

As a financial planner by trade when I decided to invest in real estate I had to make a decision on what career to pursue. The problem that you might have by trying to do the remodels yourself is that lot of times you have to keep an eye on the contractors and subcontractors. Many times we had problems with discrepancies in quantities and prices, therefore I had to decide on what would I do. I choose the real estate, since I was saving most of my life and I was capitalized, however, if I need it my former job to maintain my lifestyle and family I would probably go with the turnkey (real turnkey) properties. You really can have serve two lords without sacrificing one. That’s my experience and in the end, it’s working out these days.