How do you work with contractors and manage a job site when you’re new to flipping? It’s vital to the success of your flip that you learn to communicate with contractors and keep control of the job.
Related: 4 Reasons You’ll Never Find a Good Contractor (Insight From an Investor/Contractor)
In order to stay organized and keep your flip on track, you’ll want to consider implementing the following:
- Provide a detailed scope of work for contractors so they know what they need to do and how to do it.
- Create a system for contractors to relay issues back to you and set a workflow in place. I use Buildertrend for my job sites.
- Seek out contractors who know how to get things done and manage the quality of the job themselves. It’s worth it to spend the time to get the right team in place.
- Get a third party home inspector to find problems as early and quickly as possible.
- Have a daily log sent to you of progress on the job site (including pictures and descriptions of what has been done and a plan for the next day).
How to Estimate Rehab Costs!
Estimating rehab costs accurately can make or break your real estate business, and it takes years of experience for even the best rehabbers to master the art. However, you can expose yourself to less risk and get more accurate with your projections by learning how the pros think when estimating construction costs.
How to Work With Contractors and Manage a Job Site
So there you have it! Just remember: If you put good organization, communication, and management in place at the beginning of your project, you’ll have a much easier time completing flips on time and handling any issues that come up.
Any questions? Tips you’d add?
Be sure to comment below!
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7 Comments
Good video! Managing contractors is certainly a challenge for any investor, newbie or seasoned alike
Great video Chris! Can you provide some insight on what you specifically look for in a general contractor?
I’m a multi-family investor in Cleveland and typically purchase older run-down properties. I haven’t yet purchased a property needing as much work as the one in your videos but I’ve had my eye on a few.
Thanks for the video and the tips on managing contractors! I hope you will be posting the “after” pics of that rehab, too.
Great video. Several helpful tips, I agree about having a very detailed scope of work, and communication is the key! Thank you for this.
I really like your video. I am thinking about flipping and found this useful.
I’d also like to ad, it’s your flip so be onsite as much as possible.
Great Video Chris! Cant wait to see the next one and keep up the good work!
John