2 Reasons You Shouldn't Do ANY Work at Your Fix and Flip Project
When I started fixing and flipping houses back in 2002 I didn’t know anything about home remodeling or construction. After 14 years in the business, and more than 200 houses later, I still don’t.
The truth is I don’t know how to…
Paint
Install cabinets
Lay tile
Hang doors
Plumb
Electrify
Neither does my partner Manny (that's him in the picture with the sledgehammer, the only tool we allow ourselves to touch on the job site).
To be successful at fixing and flipping houses you don’t need to know how to do any of this stuff. We don’t do any work at our fix and flip projects, and neither should you. Here’s why:
You’re not good at it.
You have more important things to do.
You’re Not Good At It
I don’t care how many HGTV shows you’ve watched, or how many improvement projects you’ve done at your own home, chances are you suck at remodeling. Okay, so maybe you don’t suck. Maybe you’re very talented. But you’re really slow, and time is money in this business. Hiring professional trades insures your fix and flip will get done right, and fast.
You Have More Important Things To Do
Manny and I have the perfect business marriage. I find the deals and he manages the rehabs. Regardless of whether you plan to fix and flip 1-2 properties at a time, or scale up, there’s no way to get your projects done on time and on budget if you’re tied up painting walls or installing tile. Your focus should be on finding new deals and keeping the deal (or deals) you have on schedule.
That said, Manny and I aren’t above pitching in from time to time. In our last post, 3 Ways to Add Massive Value to Your Next Fix and Flip Project, I talked about our central Phoenix project and explained our plan rehab the house.
Well, the next phase in the project is demo. We love demo! Check out this video:
As you will see, there’s nothing more therapeutic than tearing down a house with a sledgehammer.
This was phase one of the demo.
Phase one of the demo? Why would we break up the demo in multiple phases? Well, because something went really wrong.
In my next post I’ll explain.
Stay tuned…
