When it comes to flipping houses, there are a lot of ways to go about it. You can do it all yourself, or you can bring in some help. If you’re wondering whether or not to use a contractor for rehabbing a flip, here are some things to consider.
Contractors can be expensive, but they can also speed up the process and make sure everything is done right. If you’re confident in your ability to do the work yourself, then hiring a contractor may not be worth the added expense. But if you’re not sure about your skills (or just want to save some time), then hiring a contractor is definitely the way to go. Just make sure you get quotes from multiple contractors so that you can find one who fits your budget.
CONTRACTOR REHABS VS. DIY REHABS
There’s no denying that contractors can be expensive. But when it comes to home rehabs, is it worth it to go the DIY route? Let’s take a look at the pros and cons of both approaches.
Contractor rehabs:
· The work will be done quickly and professionally
· You won’t have to deal with the hassle of dealing with different subcontractors
· You can be sure that all the work will be up to code
· Contractors typically have access to bulk discounts on materials, which can save you money in the long run
· If something goes wrong, the contractor will be responsible for fixing it
DIY rehabs:
· You’ll have full control over the project from start to finish
· You can use cheaper materials if you’re willing to sacrifice quality a bit
· You can complete the project at your own pace, without having to worry about meeting deadlines
· If something goes wrong, you’ll only have yourself to blame! (But you’ll also save money by not having to pay for repairs)
HOW TO FIND A GOOD CONTRACTOR
There’s no shortage of contractors out there – but how do you find a good one? Here are a few tips:
· Get recommendations from friends or family. If someone you trust has had a good experience with a contractor, that’s a great place to start.
· Check online reviews. A quick Google search will turn up any red flags about a contractor.
· Ask for references. A reputable contractor will be happy to provide you with a list of past clients who you can contact.
· Get everything in writing. Before you sign on the dotted line, make sure that all the details of your project are spelled out in the contract. This will help to avoid any misunderstandings down the road.
· PROS AND CONS OF CONTRACTOR REHABS
Every real estate investor eventually comes across the question of whether to rehab a property themselves or to hire a contractor to do it for them. There are pros and cons to both approaches. Doing the work yourself will obviously save you money on labor, but it will also require you to take on the risk of any potential problems that may arise.
If you hire a contractor, you will have to pay for their services, but they will be responsible for any issues that come up. Ultimately, the decision of whether to rehab a property yourself or to hire a contractor is one that should be based on your own individual circumstances.
HOW TO AVOID COMMON CONTRACTOR MISTAKES
· As a homeowner, you may eventually need to hire a contractor to do some work on your property. Whether it’s a small repair or a major renovation, it’s important to choose a reputable contractor who will do the job right. To avoid any problems, be sure to avoid these common mistakes:
· Not doing your research. It’s important to take the time to research different contractors before making your decision. Read online reviews, ask for recommendations from friends or family, and get pricing estimates from multiple contractors before selecting one.
· Not having a contract. Once you’ve selected a contractor, be sure to get everything in writing. The contract should detail the scope of the work, the materials that will be used, the timeline for the project, and the total cost. This will help avoid any misunderstanding about what is expected.
· Not staying involved. Even though you’re hiring a contractor to do the work, it’s still your responsibility to make sure that everything is going according to plan. Stay in communication with the contractor and check in periodically to ensure that the work is progressing as expected.
SUMMARY
So, should you use a contractor to rehab your flip? The answer is it depends. There are pros and cons to both contracting out the work and doing it yourself. But, if you’re willing to do your research, take your time finding a good contractor, and are prepared for some bumps in the road, then hiring a pro may be the best decision for you. Ready to get started?
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