Is it a good idea to get into flipping if I’m not a handyman?

Question

Can I still get into flipping houses if I’m not a “handyman”? Looking for ways to get into real estate. I’ve always been very interested.

Jim K. · Answer

The learning curve will be brutal and you will lose money in your first deals. A lot of the rest depends on a lot of different factors, but that basic truth remains. If you do go down this road, start with smaller, more manageable projects before you get into more extensive rehabs.

Account Closed · Answer

@Blayne Moran

You've got a lot of good advise in this thread, much of it involves educating yourself. Work on that first. Understanding how to manage the purchase, expenses and resale is critical as is understanding how to manage, schedule, hire and fire all the subcontractors.

I have many of the physical skills needed to rehab a house, but I do very little of it for one good reason:  I'm waaay too slow. Time is money, literally, in the rehab business, especially when you rely on hard money loans.

However, there are many things that I do to contribute to the project.

I'm responsible for changing all the locks, locksets and hinges on all the doors, inside and out. I select and install all the knobs and pulls on new kitchen cabinets.

I help with the cleanup on a regular basis and sometimes you'll see me following the contractors around the house with a vacuum cleaner.

I manage ordering, delivery and pickup of dumpsters and (if needed) a porta potti.

I select, purchase and deliver light fixtures, plumbing fixtures, vanities, toilets and other small hardware.

I'm the gofer if one of the crew needs a part, tool, or box of screws from the local hardware store.

I'm a real estate broker and that's where my real sweat equity fits in. I list my properties myself for resale. I pay buyer agents a commission of course, but the commission I would have paid myself is a signicant part of the profit. You might consider getting a real estate license. It comes in handy.

Good luck.

Theresa Harris · Answer

Are you not handy or you don't want to learn how?  You can still do it without doing the work yourself, but you need to hire the right people and realize it will cost you money.  Having said that if your day job pays more, then your time is better spent there and getting the renos/repairs done faster.

If you aren't into real estate yet, be careful about flipping.  it can be high reward, but is also high risk and you may lose money.

Brad Hammond · Answer

Hi @Blayne Moran, sure but know you are going to have some limitations.  Firstly you won't be able to do any of the work.  That isn't necessarily a bad thing but something to think about.  More importantly, it will be harder to understand what the contractor is telling you.  You will need to have them walk you through the pros and cons of a decision you need to make.  Hopefully you will find an honest handy person or GC that won't sell you blinker fluid.

Will Barnard · Answer

I was not very handy when I started either but I learned as I went along. One of the most important things in flipping is not necessarily knowing how to swing the hammer, but how much it should cost and how long it should take. If you know that, you will be ok. Knowing the basic lingo will also help when communicating with sub contractors and other service providers.

Lastly, building a quality team of people is of vital importance. Start educating yourself (here on BP is step one, step two is attending RE meetups, and during all of that, spending time learning your market is essential). Then you will be ready to go do it in the real world.

Christopher Wilke · Answer

I 100% believe so. I am not very "handy" but I have fought my way through some things to learn how they work and what a good job looks like. This has helped me when getting bids on jobs. As far as handy type jobs, I look for some little tedious things I can do to make sure the property is 100% and looks really good. For instance I have learned through youtube a little bit about electricity so now I will usually replace fixtures, plugs, and switches myself. I also do small things like making sure all lightbulbs are working and are the right color. For instance a bathroom needs a bright white like with a 4000K+ color bulb and not a dim 2400 or 2700K bulb. Picky but they matter to me. You can also make/save good money on learning or creating good systems and habits. Purchasing a good property at a good price and having the work completed by others will make/save you just as much as buying a decent property with a decent ARV and doing the work yourself.

Jim Kalish · Answer

You most certainly can get into real estate investing if you aren't handy.  But it does have some limitations and cost. You will need a good team to support you. You will need an investor friendly GC who will work with you on developing rehab costs. But you have to be loyal to him. But before you jump in feet first you need to get educated. Read books on investing. BRRRR by David Greene and Investing in Real Estate by Brandon Turner are 2 good ones to start with. And Bigger Pockets has a book on estimating rehab costs. And check out your local community college. They may have continuing Ed courses on construction. Just because you're not handy doesn't mean you can't learn. Even if you never pick up a hammer you will be better equiped to make decisions if you know what you are getting into when you take down a load bearing wall. And join  your local REIA group. I know I'm not the first person who said this but it deserves repeating. A lot of people who are not handy have made a lot of money in this business. Just be prepared before jumping in.

Good luck.

Bob S. · Answer

@Blayne Moran  I have done about 500 deals in my market, never once " picked up a hammer " ......Get yourself to a local real estate meeting, you are NOWHERE  near ready to even look at properties,

Good Luck

Is it a good idea to get into flipping if I’m not a handyman?

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