How to Maintain Quality AND Have Multiple Flips Going at the Same Time
Flipping houses is a sometimes very complicated process.
You are trying to fix up a property that’s outdated or that has lots of deferred maintenance, and trying to stay inside a budget!
If you get to the end of the project and the quality of new work done isn’t up to par you’re going to have trouble selling it (I know this from personal experience)
So how do you maintain quality and have multiple projects going at the same time?
Here are a few of my tips:
1. Make sure you put together a solid plan before you start the project.
Layout your new floorplan, design on finish out material, decide what needs to be demoed and what can be salvaged. Rushing into a complicated construction project will always lead to a drop in quality and expensive fixes later on down the road.
2. Write everything down.
Right along with having a plan is making sure your subcontractors know what that plan is and can execute on it correctly.
I get plans drawn for all my houses and this level of detail has helped me massively raise my quality.
3. Quality control inspections.
Make sure the city, county, or development services department is inspecting your subcontractors work. They will help you catch and fix problems early.
I also recommend brining in a third party home inspector to further check all the major systems in the house (foundation, roof, HVAC, plumbing, and electric)
4. Maintain close control of your project.
Even if you can’t visit everyday figure out how you’re going to get regular updates on what’s being done, and what the next steps are. Leaving a project in someone else’s hands and showing up a month later will probably not create the best result.
5. Purchase and use construction management software.
I would use a program life BuilderTrend of CoConstruct to help you manage your job sites. These will assist in creating a master schedule, getting reminders to subcontractors, paying out subs, and the list goes on and on!
Come up with a plan that includes checks along the way and make sure all the hard work you’re doing to get these houses ready for market is rewarded with the primo product we are all trying to create.