top 5 must-haves for flipping houses - project management

Top 5 Must-Haves for Flipping Houses Project Management

Project Management

Project Management

is what’s going to keep everything in line and going forward, so you don’t get over budget, your projects don’t get extended; paying an extra six months of a project could be devastating

Tips:

• Do not get your contractor into more than he can handle

• Know what your contractor is capable of

• Do not go out and get five projects and not have finished one with yet because that’s going to be a bad thing

Tips:

• You may have a “Project Manager” for each projects

somebody giving direction every day

defines the scope of work makes sure that there is a

permit process in place

Tips:

• Make an agreement with your contractor that he’ll keep a dedicated crew on that job

• Have a “timeframe” in your agreement with your contractor

• Get a general overview of how things are done

“If you want to have a better career in the real estate investing world, these are some mistakes that I made early on and now I try to change. In real estate you learn something new every day, and

I definitely learned something new every day with real estate. I didn’t have a construction background, and over the past couple years—I’m learning a little bit about construction. I still can’t go

out and—I can’t cut anything, I can’t nail anything—but I understand the process. For me, that’s good because I need the

general overview of how things are done. So, I don’t—it makes me a better investor in the long run, I can manage contractors

better.”

-Beau Eckstein

Learn more at beaueckstein.com