Fixer Uppers
Working With Contractor For Your Fixer-Uppers Deals
By
Sep 8, 2005, 18:10

Flipping property doesn't always mean buying property and reselling in he same condition that you acquired it. Often times you will have the opportunity to acquire a piece of the property that will profit handsomely from repair or renovation.

A lot of real estate flippers are competent do-it-your-selves. They enjoy the work and they enjoyed the savings of not having to hire contractors to maintain and repair their properties. If that description fits you, you need to consider two factors: the range of your skills and the value of your time. Do you have the requisite skills to repair an air conditioning unit or fix a leak in a roof, rewire an electrical system, repair plumbing, work on interior and exterior lighting, repair a wall or floor? Keep in mind that if you are not very skilled in some of these areas you could create more problems and more expense by attempting repair or maintenance that should be left to someone who knows what he or she is doing.

Even if you have some or all of those skills, do you have the time to handle them yourself? id your time better invested in fixing a toilet or in finding new properties, negotiating contractors, meeting with the members of your team, and closing the deals? Only you can say, but i advise that you carefully compare hard costs to hard costs before making your decision. If the contractor costs $50 per  hour, but your time is worth $100 an hour, you are better off tending to your flipping chores and letting the contractors do what they do best.

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