Doing The Repairs Yourself

[homealone]

Hiring a contractor to come in and help you flip a house is the best idea there is if you don't know how to do the work yourself. Though I also know a house flipper can save a bundle of money if the work is done without paying a contractor.

I know that you can learn to do just about anyting that needs done to a house either online or at a library. The thing is most people don't want to take the time to study and learn what they need to. They seem to prefer to pay for a contractor, but learning to do the work yourself will save loads of money in the end and that is what house flipping is all about...making money!!

Another problem I have read about that happens during a house flip is that people don't communicate with one another and this is another mistake that costs money.

To me is makes much more sense for a house flipper to discuss plans with others and do as much work as possible to save money on the flip and gain a maximum amount on the sale.

[realestatehound]

I do the most of the work on my flips myself and I usually clear at least $10,000 more than my competitors do by doing the work myself. The way I look at it is that if it takes me a month to finish a house and I can clear just an extra $5,000 that's a pretty good month's work. Most of the work in flipping is cosmetic, drywall, paint, trim, and so on and just about anyone with an eye for detail can do it.

[homealone]

Wow I knew that doing the work yourself could and would save money, though I didn't know it could save so much money. That is one heck of a savings for a month's work.

It makes me wonder why more house flippers don't do the work and hire others to do it instead. I would think that all house flippers would do all that needs to be done themselves to make more of a profit,but all the shows I see on TV show them bringing in others to do the work.

Sorry but if I was flipping a house I think I would rather do the work myself and make myself more money in the end.

Realestatehound have you always done most of your work when doing a flip or in the beginning did you hire in workers to do it, if so what changed to make you do it yourself?

[realestatehound]

I have always done the most of my work myself. I had one realtor that also flips homes tell me that the most he had ever made off of a flip was $10,000. Well guess what if you want to keep the contractors in business then spend all your money on contractors. Learning to work on houses is just like anything else you have to try it to see if you can do it. There's not one person out there that if they would try can't fix holes in drywall and paint a house. It's all in paying attention to detail. I frame closets, put in tub and surround kits, and with all the information out there anyone can learn how to do it. Most contractors around here will figure how much the materials cost and then at least double that to get their labour. So if your material cost $10,000 the contractor will charge another $10,000 and you just spent $20,000. But I just spent $10,000. I usually spend between $7,000 to $10,000 on material. That includes applainces and floor coverings. Every now and then I get a heat pump that is bad and have to spend another $5,000 to get a new one installed. I bet if you really tried you could do the most of the work yourself and it would looks as good as if you hired a contractor. Try it you'll be suprised and if you need to know how to do something just ask.

[flippinout]

We are lucky, we have very multi talented sons that can pretty much do anything we would need done and my husband can do all of the things that need done also including block laying.

With the wealth of information both on the internet and the wisdom in this forum, all the answers to any projects you may need is right at hand.

And, as you said, dont be afraid to try your hand at some of these projects. You may be surprised at what all you can do yourself.

[homealone]

I have never flipped a home, though I have had to fix broken pipes, holes in drywall and so on. Thanks to everyone in this forum and YouTube I have learned how to deal with these problems with out having to hire some one to do it for me.

It is amazing at how much money a house flipper can really save by doing the work that needs to be done themselves. I know that I would rather learn something new and work myself and put that money into my pocket instead of giving it over to someone else.

Also Realestatehound I appreciate the offer of your knowledge should I need it on repairs as they pop up. Around here who knows when or what is going to happen and it is nice knowing that if I need to do somehting I have some great people to turn to help me on the way.