I am looking to get into the rehab market, but I need a little advice. I am looking to use a hardmoney lender for acquisition and repairs. I was looking to be general contractor on my own deals, but I don’t know if I have to be licensed to hold that title? I plan on hiring people specific to the job rather than hiring a " I can fix anything" person. I’ve heard horror stories of hiring those types.
Also, I am looking for suggestions on good places to get materials other than the usual Lowe’s and Home Depot.
If you are going to be your own general contractor, make sure you really understand how the rehab schedule works - meaning when to call in the plumber and the electrician and the drywall people. And when to schedule their secondary visits.
I recommend getting “Flip” the book (just search on Amazon for it). It has a great timeline on how to structure your work list and who you need to have scheduled for it.
Other than the big box stores, you will just need to check in your area to see who has the best prices. Do some math and figure out if the savings (or not) that you would get are worth the extra trips and time to go to many different places.
this is a dangerous assumption to make, but it depends on a large number of variables like how and size of jobs you are doing and your local ordinances/laws. If you have 2 or 3 jobs going at once with roll-off dumpsters out front of the houses, then sooner or later the building inspector is going to want to see permits/licenses. If you are quitely doing 1 or 2 per year or light duty stuff like carpet and paint with an occasional bathroom remodel, you most likely are OK.
Talk to some local GCs and understand how things work in your area.