Do the building work yourself when flipping

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pongoman

Most builders tend to earn more than £200 per day when they price up a job and often can be earning £500 to £1000 per day therefore it's best to do as much of the building work yourself on a refurb flip as possible
 
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So now all you need to do is gain 30 or 40 years of trade knowledge overnight and you’re golden :rolleyes:
 
pongoman said:
Most builders tend to earn more than £200 per day when they price up a job and often can be earning £500 to £1000 per day.

Buying - refurbishing and selling a house might get you £5k - £10k if it's all done properly net but the builder has probably earned more than this in the deal if you have a builder doing the entire refurb

Therefore the key is to do all of the building work yourself directly employing the trades at "trade prices" and not this inflated "price work" which soak up all the profit

My point: Builders can make a lot of money and they are the ones making the money without the risk therefore I think the key to making money is to buy a house and do the building workyourself then sell the house and at the same time do high quality building work jobs for other people.

This is far more profitable than just buying paying builders to do refurbs and then selling.
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That isn't really true though.

The builder has put in his hours of labour you haven't.

You are comparing direct labour to profit
 
I'm somewhat wondering if this is a wind up post.

Are you trolling? .......my apologies if you arent
 
Here's a top tip, try to incorporate more space in the property, extend if possible after all that's what adds value, nice decs, new kitchen and bathrooms add less than they cost.
 
Another "I know best" post from pongoman.
My friend, on this forum you'll find many seasoned builders and tradesmen of all walk of life.
You can't fool us all, maybe a few, but not many.
Your game has been popular for many decades and we have all profited from property developers like you.
Now you want to profit from us, but it will not work.
As said, I have personally bought and sold properties for a quick profit, so I know the game.
This rubbish about high end refurbishment is just plain nonsense.
I told you in the other thread that you cannot make money by refurbishing to high standard and selling straight away: been there myself, remember?
Now, you're trying to give us a lesson on how to make money by doing the refurbishment yourself but at the same time you admit on being just a diyer (aka bodger) with no experience.
AND... You refurbish to high standard!
How is that possible???
Why would you need a project manager then?
Is it to sit in the pub all day while the PM is doing all the runaround for minimum wage?
I say it again: you will not find a good builder working as a slave for £20k year.
Starting at £50+benefits MIGHT get someone interested, but I personally wouldn't be.
Here is the truth and you know it: you buy a wreck repossessed by the bank and fit a cheap wickes/b&q take away kitchen, a few shiny tiles in the bathroom and a splash of cheap emulsion all over walls, ceiling, radiators and woodwork (yes, emulsion. See how I know?)
Then flip the property on the market to the unsuspecting first time buyer who will end up asking questions on this forum about all the hidden problems.
Close enough hey!
How would I (and many others here) possibly know this???
Decades on the ground, fixing bodges.
So, given your nonsensical multiple threads in just a few hours, I'm out.
 
you admit on being just a diyer (aka bodger)
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fit a cheap wickes/b&q take away kitchen, a few shiny tiles in the bathroom and a splash of cheap emulsion all over walls, ceiling, radiators and woodwork (yes, emulsion. See how I know?)
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:eek::eek::p

Please don't label all DIYers as bodgers (y)(y)...otherwise agree 100% :D
 
mrrusty said:
:eek::eek::p

Please don't label all DIYers as bodgers (y)(y)...otherwise agree 100% :D
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bernardgreen said:
I agree with that, and then I would go further and say that some people who earn their living by renovating properties are the worst bodgers.
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I totally agree.
What I meant is that if someone is saying that they're just about diyers and want to run a building business, it would probably end up in a massive bodge.
 
Notch7 said:
That isn't really true though. The builder has put in his hours of labour you haven't. You are comparing direct labour to profit
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Doing the building work yourself you'll turn what a builder would charge £50,000 for into a cost of about £15,000
 
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johnny2007 said:
Another "I know best" post from pongoman.
My friend, on this forum you'll find many seasoned builders and tradesmen of all walk of life.
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I'd like to make more money by doing more of the building work ourselves
 
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johnny2007 said:
I totally agree.
What I meant is that if someone is saying that they're just about diyers and want to run a building business, it would probably end up in a massive bodge.
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Disagree
 
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pongoman said:
The point I'm making is if you do as much building work as you can yourself you'll turn what a builder would £50,000 for into a cost of about £10,000 if you do it yourself that £40k adds to the pot.
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I saved 50p once by running along beside the bus. I told my dad what I’d done and he told me off. He said I should have run beside a taxi and saved even more.
 
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