During Your Flip: Nail these Crucial Project Management Skills

by Janice Litke 03/15/2020

Photo by TeroVesalainen via Pixabay

Flipping a house successfully means keeping your ducks in a row during the rehab process--and that typically means communicating with several vendors to coordinate work, making sure everyone is on the same page, and dealing with delays when they (inevitably) occur. It's worth your while to build a project management strategy and skill set into your workflow, particularly if you aren't accustomed to managing multiple teams on a project. 

1. Always Know What's Happening 

When you get started on a project, you'll need a list of vendors (electricians, plumbers, landscapers, etc.) and a scope of work for each of them. In some cases, a general contractor will manage all of these for you; in others, you'll end up coordinating the different facets of the job yourself. Regardless of who's doing what, you need to know what your people are working on. Don't micromanage the people you've hired, do check in with your contractor often.

The best suggestion is requiring a report of who's on the job (general contractor, subs, other vendors) and what's getting accomplished each week. This keeps your contractor more accountable and keeps you informed of issues as they pop up. 

2. Use a Project Management System 

House flippers use a huge variety of different online tools and apps to keep them on track, and the one that works best for you will be the one you find easiest to use. Many have had great success with Podio, Basecamp, and Asana as well. Learning one of these systems (or establishing your own) and using it to keep you and your team on track will make a huge difference in keeping your project running smoothly. 

3. Set Expectations Before You Begin 

It sounds simple, but this is a big one. Before your contractors get started, talk them through your goals--in terms of timelines, budgets, and unforeseen issues that arise during the flipping process. Here are a few issues to address with your contractor before work even begins: 

  • What grade of materials and finishes do you expect to be used? 
  • What happens when it becomes clear something is going to cost more than expected? 
  • What subcontractors will your general contractor be hiring out? For what projects? 
  • Do you expect a weekly report of what's going to be accomplished that week? Will you be on-site each day for a walk-through? How will you stay on top of the project and answer any questions that come up? 

Many excellent books have been written on managing a house flip, so don't take this to be an exhaustive list by any means. But it's a solid skeleton of a jumping-off point as you plan out the most efficient ways to manage your projects. 

About the Author
Author

Janice Litke

Janice Litke has Your Key to Sarasota! A consistent top producer, Janice brings to the Sarasota market the same unwavering drive and commitment to customer care that has earned her awards, respect and loyalty among her colleagues and clientele.Janice’s many years in the corporate world as District Vice President, Area Sales Manager, Corporate Trainer and Recruiter, and Director of Corporate Relocation has sharpened her negotiation and sales skills. These traits have proved invaluable in her work as a real estate agent. Her move into the field came, she says, because she sought something more than just a successful career. “I wanted to contribute to something greater,” she explains. “In real estate I have the opportunity to help people achieve their goals, and to add value to every transaction I represent”.Early on, Janice cultivated a niche, regularly representing clients in the sales and purchases of fine homes. Her dynamic, high-energy approach, coupled with the experience and knowledge necessary to represent real estate clientele, have proven the ideal foundation upon which to build her thriving business. Janice understands the unique needs of her real estate clientele. As such, she offers a concierge level of service that is designed to maximize each client’s time, and enhance the experience of buying or selling a home.As a listing agent, Janice utilizes a comprehensive marketing and advertising plan tailored to each home she represents, ensuring high visibility for all of her listings. As the President ad member of the Sarasota’s Women’s Council of Realtors, a strong networking strategy has enabled her to forge alliances with some of the nation’s top real estate professionals, who help market her properties to prospective buyers around the country.Janice’s dedication to her clientele is matched by her commitment to remaining at the top of her profession. Her designations, she says, are of significant worth to her business and her clientele. “I value my time and only pursue professional development where I feel that there will be a benefit to me and my clients,” she notes. Her performance speaks for itself.Understanding the value of incorporating technology into her fast-paced business, Janice is tapped into the latest tools and marketing techniques to ensure that she is readily available to her clientele and colleagues, and her properties are kept in high visibility.A busy professional, Janice holds strong family values and enjoys spending time with her family and friends. She’s attended the University of London and earned her MBA from the University of South Florida. Always tapped into the local market, Janice is an active member of the Women’s Council of Realtors, the National Association of Realtors, The Florida Association of Realtors, Sarasota Association of Realtors® Women’s Initiative, Community Bible Study, The Shore Church and the Chamber of Commerce. She enjoys Sarasota’s cultural arts, fine architecture and glorious beaches, and appreciates the opportunity to sell the area’s enviable lifestyle. As a resident of Lido Beach, Janice's experience, strong communication skills and her attention to details, benefits her clients with superior personalized service.“I love it here, there is a wonderful diversity in real estate, culture and people, and it’s exciting to be a part of this community.”