Home flipping, the practice of purchasing a property with the intention of renovating and selling it quickly for profit, has become increasingly popular in recent years. However, flipping a house is not a simple process, and it requires careful planning and execution.
One of the most critical aspects of a successful home flipping project is finding the right contractors near me. With so many options available, it can be overwhelming to choose a contractor who has the necessary skills, experience, and reliability to complete the project on time and within budget.
Here at GreatBuildz, a free service that connects homeowners in Orange County, Ventura, LA, and San Diego with reliable general contractors, we speak to homeowners and investors every day about finding the right fix and flip contractors for their remodel. In this article, we will discuss how to find the best contractors for home flipping projects and provide tips for effectively managing them throughout the process.
How to find Fix and Flip Contractors near me
If you have a fix-and-flip project on the horizon, one of the most important parts of the process will be finding the right contractor to work with. The best places to look for good contractors include:
- Referrals and recommendations – One of the best places to start is always with friends, family members, and acquaintances who can personally vouch for a contractor they’ve worked with in the past
- Local organizations – Organizations such as the National Association of Home Builders or the National Association of the Remodeling Industry typically have lists of members that you can consult to find contractors
- Social media – These days, social media is one of the most convenient tools available for finding professionals in your area. Look at local groups, search hashtags, or post asking for recommendations. Beware however: many contractors use these channels for their own marketing, so it can be hard to tell which suggestions are authentic and which are an ‘inside-job’.
- GreatBuildz – Finding a contractor in Southern California is effortless with GreatBuildz. Just share your requirements and be matched with a pre-vetted, trustworthy contractor.
What to look for in a fix and flip contractor
Once you have a list of potential contractors near me, it’s important to research them thoroughly before making a decision. Here are some things to look for that will indicate that somebody is worth working with.
- Experience – It’s important to verify that a contractor has a strong track record of success with previous projects. Check out their portfolio and ask for references to confirm their experience.
- Licenses and insurance – Before hiring anybody, make sure they have the correct construction licenses and liability insurance to protect you from liability in case of property damage or accidents during the project.
- Professionalism – You’ll want to find someone professional and reliable with a good reputation. Check out reviews and ratings in order to see what somebody’s reputation is like.
- Communication and rapport – It’s important that you find a contractor with whom you will enjoy working throughout the duration of your process. Look for somebody responsive, easy to reach, and good at communicating.
Contractors who work with investors versus homeowners for fix and flip projects
You may be wondering if the contractors you hire for a fix and flip project will in some way differ from those best suited to working with a homeowner, and the answer is yes. Contractors who work with investors as opposed to homeowners may differ as the goals and priorities of each project type are different.
Fix and flip projects are often larger in scale, requiring contractors who are equipped to handle long-term, complex projects. They also often require tight deadlines to maximize return on investment, meaning fix and flip contractors must be able to work quickly and efficiently. Similarly, these types of projects typically have a strict budget, which means that contractors must be able to provide value without going over budget.
For these reasons, it’s helpful to work with contractors who have experience specifically with fix and flip projects. They’ll be able to better understand and anticipate your needs and expectations, communicating more frequently and especially about the issues (like budget, project timeline, and project progress) that you’re most concerned with.
The advantages of a general contractor
There are two ways to go when it comes to finding fix and flip contractors: working with a single general contractor or hiring several different subcontractors. Generally speaking, a general contractor is a more advantageous decision.
First, general contractors can provide a single point of contact, helping streamline communication. And when you work directly with subcontractors, you end up having to do quite a bit of coordination. By working with a general contractor, you can essentially outsource this work, giving you a chance to take a step back and focus on other things. This is essential if you have multiple fix and flip projects going on at once.
That’s not to mention that general contractors may be able to negotiate better prices with subcontractors, helping you save more on the project. And, with their own contractor insurance, they’ll also help mitigate the risk for you and protect against unforeseen problems.
Tips for managing fix and flip contractors
In order for your project to be as successful as possible, here are some tips to keep in mind for communicating with and managing contractors.
- Have clear expectations – Clearly communicate your needs regarding timeline, budget, and quality standards
- Get everything in writing – All agreements should be in writing in order to minimize misunderstandings and miscommunications
- Set milestones – Fix and flip projects can be lengthy, so set milestones and hold regular meetings to check in and review progress, helping to keep things on track
- Be flexible – Construction projects inevitably run into some unexpected variables. Be prepared and aim to be flexible if and when this happens.
If you’re unsure about where to start your search for a home flip contractors near me, reach out to GreatBuildz. We’ll help connect you with one of our pre-vetted investor-friendly contractors with a track record of success working with house flippers. Just let us know what you’re looking for and we’ll make sure to match you with somebody who can meet your fix and flip needs.
Contact us today at (818.317.3567) or visit our website to get paired up with fix and flip contractors near me in Southern California, Los Angeles, Orange County, or Ventura County.