If you want to do flip a house correctly, you’ll need to assemble a team of excellent professionals to help you. How do you know which type of specialists you’ll need on your team? Let’s explore the breakdown of the different house flipping team members you need.
Real Estate Attorney
Real estate properties have complex zoning laws and other regulations that may limit an investor’s project goals.
This is why it’s critical to have a licensed real estate attorney by your side to avoid encountering legal issues. They can help you write and review all the necessary contracts for your house flipping projects.
Beyond that, they can help you with titles, short sales, and other legal concerns. They’ll be able to break down the complicated legal contracts so that you’re confident in your next moves.
Real Estate Agent
Most house flippers are already established real estate agents because they have an intimate understanding of the real estate market.
However, you don’t need to be a licensed real estate agent to flip a home. It’s always best to work with an agent if you don’t already have one. They can help you prepare all the paperwork required for a successful flip because of their detailed knowledge of the local market.
Home Inspector
Even though you’re planning a flip, you’ll still need a home inspector. This is because they can clue you in on the exact repairs you need to make the home safe for future owners.
The seller might know what work needs to be done, but it’s a more efficient option to work with a home inspector. They can inform you if the home needs expensive pest removal, structural work, appliance replacements, and more.
Reputable Contractors
Almost every house flipping project you come across will inevitably involve repairs of some kind. Calculating repair costs can be a challenging task if you take it on by yourself, which is why you must find a reputable contractor to assist you on your next flip.
Contractors will have the knowledge and connections necessary to create a realistic budget for your business. You can also call on their expertise whenever you need construction workers, plumbers, electricians, and more.
Now that you understand the different house flipping team members you need, you can better understand the complicated process of house flipping and how a team can help you succeed.
