Hey guys, Alex Martinez here. I get the question a lot from real estate investment companies and real estate investors of “do I actually do the work myself at the property for a house flip?” The long and short of it is no, I don't!
This is because you want to focus on building the real estate investment business, you want to focus on the marketing and getting other private lenders to lend your company money so you use other people's money for your deals. By no means do you want to be the general contractor at the property, putting up drywall, painting, and doing all of these different tasks all the time.
So, the short answer is “no.” However, here and there I will do a little work. I'll tell you a story. Last property I flipped I had an investor coming to the property. He lent about $500,000 on this particular property flip. The property needed a little cleanup, and the contractors were there at the house, but they were busy working. I didn't want to say one of the workers: "Hey, can you clean this up?" So, I cleaned it up myself and I did a little touch-up paint here and there. I worked with the guys to get the house flip done and to have the house look nice for one of my real estate investors.
As far as the extent of it, I don't do more than that. I take pride in my work, I'll do touch-ups here and there, especially towards the finished project, but by no means is that my day-to-day. My day-to-day is focusing on building the real estate investment business, putting more marketing out there, creating new marketing channels, building my relationships with agents in the area, building my relationships with my investors so I can get more investment capital, and scaling and growing my business. I want to work ON the business, not in it.
That's the long and short of it, don't spend your time working on the property and doing the work yourself. It'll be a waste of your time if your main goal is to focus on building the real estate house flipping business. Now by all means, if this is a hobby for you and you don't want to build a huge real estate investment business and do 10 deals a month, then by all means do the work. If that's what you enjoy, you want to put your pride into it & do the work.
If you do it with your son or your friend or family member who am I to tell you not to do it? I'm just letting you know in my experience what I recommend to those who are serious about building their real estate investment businesses and want to use their time wisely and the smart way.
In summary, don't be the guy working on your flips if want to scale and build a serious real estate investment business!
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