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THE ROOKIE PLAYBOOK

Welcome to part 2 of Flip Talk’s first Q & A session. In the last episode, we introduced you to Tiffany Walker, a wholesale real estate investor on the eastern coast of the United States. She’s looking to expand her business into the house flipping side of the industry and reached out to us with several questions about how to get started in renovating homes to flip.

Today, we’re discussing how to work with contractors, setting standards and building relationships with contractors when you’re just starting out, as well as how to monitor and negotiate your expenses while working with contractors.

It’s very important to set the standard up front when working with contractors.

On Today’s Episode of Flip Talk:

  • Home rehab draw schedules and how we work with contractors.
  • Contractor and contract law and why it is critical to educate yourself on your area’s laws.
  • How to obtain repair and rehab cost estimates.
  • Why we create detailed preferred material lists and “back up” material lists for our contractors to refer to.
  • Building demeanor and relationships with contractors from the beginning.
  • Why you shouldn’t purchase building materials for your rehab project.
  • Contractor permits – who should pull them?

Connect with Tiffany Walker:

  • Email: NYCApts.Tiffanyw [at] gmail [dot] com

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Join us every Wednesday for a brand new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens on real estate investing and house flipping. Email your questions to Topics [at] FlipTalk [dot] com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, or visit our website.

 

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