Craven Academy: Real Estate

After figuring the scope of the project, you need to create a timeline. If you are working with a contractor, he will be able to help you to do this. Creating a proper timeline is an extremely important part of any flip project. You need to coordinate different aspects of the job so that everything flows smoothly. Without a good idea of what needs to be done, and when, you will find yourself stopping and starting repeatedly. Remember that the clock is ticking and every delay costs you money. This is very important when ordering material and coordinating various contractors. You don't want to wait until the kitchen is ready for cabinets to order them, if you do, you might find yourself waiting for several weeks with nothing to do.

You also need to be able to multi-task; it is not unusual to have several things going on at once. You might have electricians and plumbers working inside and have roofers and a landscape crew working outside, all at the same time. You will find yourself wearing many hats and putting out many fires. You need to understand that this is all part of the job. Things can get very hectic when you have a project running and you need to keep on top of it all.