I am looking into getting into the trades for flipping homes and doing renovations. My question is how much profit would I make if I am renovating a basement. I would be doing everything myself but the electrical and plumbing.
Any insights into the business would be greatly appreciated.
Best advice honestly is to learn the trade first before you flip a house or subcontract all and deal with the project management. Don't get caught up in the tv show idea. Sorry to burst your bubble you could loose a lot of money my friend.
I think you u are playing with Fire it's not that easy to be a contractor and do most of the work your self.
What I would do is sub contract it all out get some good companies in ther that you can trust don't change them out just because you find someone that is cheaper flipping houses and doing renovations are about trust knowing that you don't have to look over the shoulder of every company in there gives you more time to find new projects closing new deals.
Yes it might be tempting to save 500$ on the electrical but it comes with the uncertainty about the new cheaper contractor everytime.
So get your self a good group of companies you can trust and half the battle is won after that u start building your company finding deals closing sales that is your job.
Stop watching tv these stupid TV shows other than BB and Holmes have done nothing but give people a false sense of renovation, flipping or make light of the real costs but more importantly the time it takes to do it properly. Some are currently being sued.
Its all smoke and mirrors my friend!
Quite frankly if your just getting into it don't make our jobs any harder stick to your day job.
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