Do the building work yourself when flipping

  • Thread starter Thread starter pongoman
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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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Earning a minimum of £500 per day
 
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pongoman said:
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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But you can say that about almost any type of building work? If I get a company in to rip and fit a new bathroom, it'll cost x. Do it myself it'll cost y. Whilst x will invariably cost more, maybe a lot more, I'd need to have the relevant skills to (properly) fit the bathroom myself.

It's a kind of non question/statement. If I buy a house to flip and can do most of the works myself, obviously it'll cost less than getting trades in. But again, I'd need to be proficient in all the required trades, have the time, ensure regs compliance etc. Surely the key for most who do this is to build up a good working relationship with various trades with a view to securing best value for money. And using the same team each flip.
 
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 therefore it's best to do as much of the building work yourself on a refurb flip as possible
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is it? get real.
 
this idiot is exactly the pending disaster area that my bank account has thrived on for decades.
 
pongoman said:
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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And how about how are you funding your living costs? Costs of transporting small amounts of materials? PLI? Tools?
 
wgt52 said:
And how about how are you funding your living costs? Costs of transporting small amounts of materials? PLI?
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Unearned rental income and a budget for these expenses in the business plan
 
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 therefore it's best to do as much of the building work yourself on a refurb flip as possible
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I live in a builders town I know a good few trades men so can get most skills at good rates, When (Like in London) you don't know any trades then its like russian roulette. Getting a good tradesman is the main thing then its the cost for their skills (If they have any.
If your good with your hands do what your good at.

I plan on buying a refurb next year (If I can find one)
 
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