What's the best trade to learn for flipping houses?

Plumbing: Essential for House Flipping

For flipping houses, there are a lot of trades you could choose to learn. But ‌plumbing is the best one to start with. Why? Because it's often overlooked and undervalued, but it's essential to any house-flipping project.

Think about it—a house without working plumbing is basically uninhabitable. And as a flipper, you're not just looking to create a pretty space, you're looking to create a functional and livable one. That's why it's so important to understand plumbing basics like water flow, sewage systems, and how to install and repair pipes. Plus, plumbing can be a lucrative skill to have. It's not uncommon for plumbing repairs to cost thousands of dollars, and if you can do the work yourself, you'll save a ton of money on your projects.

Art of Negotiation: Save Money

The best trade to learn isn’t really a trade, but it’s a skill that would be infinitely more helpful than any one particular trade, even acting as a general contractor. That skill is the art of negotiation. If you learn to negotiate well, you’re more likely to save more money on the purchase than any amount of money your skill could save.

The best example I could give would be to negotiate for 20K less than you hope to buy for and allow that to pay for your bathroom rehab, kitchen rehab, and some cosmetic rehab (think painting and flooring).

Even if you painted, it may only save you 5-8K on your average 3 bedroom, 1 bathroom home. There are obviously rehab projects that will be more costly, but none can save you more than getting the property for a good price. That is why negotiating is the best skill you can learn when attempting to flip.

Carpentry: Add Value to Your House Flip

Are you ready to flip some houses like a pro? As a seasoned real estate agent, I can tell you that learning a trade or two can make an enormous difference in the success of your house-flipping endeavors. Of all the trades, I'd say carpentry is the king! A skilled carpenter can create custom cabinetry, install crown molding, and add unique features that make your property stand out in the competitive real estate market.

So, grab your tool belt and get ready to add some serious value to your next house flip!

Property Management: Essential Skills

Having a solid understanding of property management can help real estate investors effectively manage rental properties, estimate rental income, and ultimately increase rental income. Property management skills are important for house flippers who plan to rent out the properties they purchase, as managing rental properties is crucial to generating consistent rental income.

Investors can better understand the needs and preferences of their tenants, make informed decisions about property improvements and repairs, and effectively market their rental properties to attract high-quality tenants. In addition, investors who have a firm grasp of property management may save money by avoiding costly mistakes and implementing effective cost-cutting measures.

Overall, mastering the trade of property management is essential for any real estate investor who wants to flip houses and generate rental income from their investment properties.

Painting: Transforming Spaces

The best trade to learn for flipping houses is painting. A painter applies paint to the walls, ceiling, and other surfaces in the house. They can help you choose the right colors and finishes to create a cohesive and attractive look.

Project and Time Management: Crucial for Success

The most valuable trade to master when flipping houses is a combination of project management and time management skills. Flipping houses involves a multitude of tasks, such as managing contractors for repairs, working with realtors, and handling financing.

Strong project and time management abilities are crucial, particularly when you're juggling multiple properties simultaneously. By honing these skills, you can effectively oversee all aspects of the process and maximize your chances of success in the house-flipping business.

Curb Appeal: Capture Initial Interest

Curb appeal is the first impression that buyers get when they pull up to your house. To capture this initial interest, you must learn how to create an inviting outdoor living area. Landscaping is a key factor in establishing this attraction, as is adding decorative elements like outdoor lighting, garden planters, and seating areas.

You also need painting skills to touch up any exterior spaces, such as siding or trim, that show signs of wear and tear. With the right skills, you can make a home's curb appeal shine, which can be a great asset in flipping.

Electrical Experience: Ensuring Safe Wiring

The best trade to learn for flipping houses is being an electrician. An electrician installs, repairing, and maintaining electrical systems in the house. They can help you make sure the wiring is up to code and ensure that there are no safety hazards with the electrical system.

General Contracting: Oversee Renovations

General contractors coordinate and supervise different aspects of the renovation process, including hiring and scheduling subcontractors, getting permits, and ensuring that the work is completed according to plan and within budget.

One benefit of being a general contractor is that it gives you greater control over the renovation process. You can decide on the materials used, the timeline of the project, and the quality of the workmanship.

This can allow you to ensure that the renovations are done to your specifications and meet your standards, which can be crucial in maximizing the property value when it's time to sell.