Purchasing property and flipping it for profit is not an easy endeavor, by any means. The reason so many aspiring investors get their hands in the game is because the fix and flip business can be incredibly lucrative—that is, if you don’t lose your sanity first.
Undiscovered damage. Codes and regulations. Contractors and their crew. Your list of potential problems is endless. No matter what projects your fix and flip has in store, one thing remains the same: the need to hire a professional who can get the job done right the first time.
Central heating is mandatory in most states, and if you want your renovated home to sell quickly, then you better make sure it comes equipped with a powerful air conditioning system and a comfortable living environment.
You can take the DIY route on some renovations, but more likely than not, you won’t be able to crawl into the attic and perform the ductwork yourself. Here’s how to find the right HVAC team to help fix your property, so you can flip it for profit.
Use References as a Resource
In the age of the internet, it’s all too easy to hop onto Google, do a quick search, and contact the first HVAC technician that appears on your results page. Don’t do this. Although Google is probably the most trustworthy search engines out there, it doesn’t mean that they’re above making money off its users. They want to present you with the best information, but there’s a high probability that the first few results you see are monetized, paid-for, or strategically optimized in some sort of way.
Before you call up anyone from your online search results, ask your friends, family, and successful real estate investors if they know of anyone in the HVAC industry. Their personal recommendation is probably more trustworthy than an anonymous review, and you might even get to reap the benefits of a referral bonus!
Find Their Niche
What type of HVAC service does your fixer-upper need? Maybe you have to repair the heat pump refrigerant to comply with government ordinance or perhaps the central air system needs a tune-up. Whatever the project is, find a contractor who has demonstrated experience with that specific task.
You might be working with a general contractor who oversees your entire fix and flip, but when it comes to heating, ventilation, and air conditioning projects, you should hire a specialized pro. Be selective; don’t go with someone who typically works commercial HVAC jobs if you’re only renovating a single-family unit.
Check Their Licenses
Many HVAC services involve natural gas, chemicals, oil, and other hazardous materials—which could be potentially dangerous if performed incorrectly. Even though you may feel good about the technician you’ve found, it’s imperative that you verify their license(s) before you agree to their bid on the job.
Most states require HVAC contractors to be licensed and certified, and many cities or municipalities have their own specific contractor requirements as well. License applicants are typically required to have a minimum amount of on-the-job experience—typically between two to five years—before they can be certified and approved.
Robust experience in the field is critical; a comfortable home is important, but safety is the biggest priority of all. It’s imperative your contractor knows the proper operation of ventilation and exhaust systems when working with furnaces; it’s the key to preventing death or injury from tragic events, such as carbon monoxide poisoning, which can occur if the HVAC system malfunctions due to improper installation.
When you’re working on a fix and flip venture, you have a million and one things on your mind. It’s easy and understandable to take the simplest route by running a quick search and hiring the first HVAC contractor you find online.
Your project timeline management ties hand in hand with profitability, but don’t rush this process. Ask around for references, make sure they have experience with your specific need, and verify that they are fully licensed and insured before allowing them to perform work on your investment.
You’re investing a ton of money into this venture—do it right every step of the way!