How important is doing the construction yourself for fix and flip
I understand that starting out, a lot of fix and flippers do some of the work themselves and hire the rest out. I'm wondering, if you were to do this at scale, would you still be doing some of the construction yourself, or would that not serve a purpose at scale when you could be going out finding deals, marketing, ect?
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@Glenn Gayet As others have mentioned, I think your time is more valuable than doing the work yourself. I personally enjoy doing landscaping, so that's a job that I wouldn't hire out simply because it brings me satisfaction and peace. For the rest of it? Hire it out. @J Scott has an incredible book (not sorry about pushing this product) that details the most efficient systems in fix and flips, and I think it's more important to have a greater volume of deals in your pipeline than trying to save costs and do the work yourself.
A way I look at it: if I could be spending 6 hours a day finding another deal with a minimum margin of $20K, and am able to line up 1 one more deal over the course of a week, I think that is certainly more valuable than doing drywall or painting at $20/hour. To crunch a few numbers, 6 hours/day at $20/hr multiplied by 6 days equals $720 in saved costs. I'd rather have the $20K/week profit margin over saving $720/week.