6 Signs It’s Time to Expand Your Fix & Flip Team

fix and flip team

Hiring is one of the more expensive investments you can make for your business, but if you have too much on your plate and your business is suffering, the added expense posed by hiring new team members will pay for itself. A new hire can help you avoid unnecessary costs, which can involve actual costs by avoiding accidental overpayments, and opportunity costs by allowing you more time to improve operations, work through inefficiencies, seek out new vendors and pursue valuable networking opportunities.

Here are six signs it’s time to hire someone to help you with your fix & flip business:

1. You’re not paying your bills on time.

If you’re starting to miss payments due to disorganization or because you’re overwhelmed, it’s a sign that it’s time to hire someone to help you out.

2. You’re not checking invoices.

If you aren’t auditing each invoice you pay to prevent overpayment, you may be losing money unnecessarily. Hiring someone new will free up your time so you can review invoices and avoid overpayment.

3. Your acquisition or remodeling side is suffering.

As your business grows, something has to give. You can’t do it all on your own, or depend on a small team to do too much. If you find that you no longer have the time to search for new properties and successfully manage your current remodels, your business will suffer. You’ll either miss out on potentially lucrative new deals or your remodels will not meet your standards, resulting in lower sale prices.

4. You aren’t tracking all expenses and ROI for your projects.

When you get overwhelmed in your business, finding time to track your expenses and make sure you’re getting a good ROI on your projects gets to be a challenge. However, these tasks are essential for you to ensure you’re running an efficient and profitable fix & flip business. If you find that you’re letting this part of your business slip, it might be a sign that it’s time to hire some more help.

5. Your end result fails to meet your goal.

If you’re finding that your end result is not meeting your standards, it may be an indication that you don’t have the time to plan your projects or that you don’t have the ability to follow through on your plans due to lack of time or resources. Don’t let your business suffer because you’re stretched too thin.

6) You’re not keeping up on current market trends.

The housing market fluctuates a great deal, and features that were desirable several years ago may not add the same value today. If you want to run a successful fix & flip business, it is important to keep up with the current trends. However, it takes some time and focus to do so. If you find that you’re struggling to keep up with the housing market, it may be a sign that you’re overwhelmed in other parts of your business.

Not ready to hire a new team member? Let Gorilla Capital help.

When you fund your fix & flip business with Gorilla Capital, receiving reliable, fast funding is only the beginning. Our extensive back office support services, provided with our funding, will help reduce busywork. This allows you to focus on finding more deals and increasing your ROI.

We pay all of your contractor invoices, double-checking for accuracy, and handle all 1099 and tax compliancy matters. Using our advanced web-based property tracking software, you can see the real-time status of each of your projects along with projected and actual Gross Profit.

Our transaction coordinators will take care of all purchase and closing paperwork, including providing tax IDs, wiring instructions, executed HUD, and closing documents. Learn more about how funding from Gorilla Capital can help you reach your business’s growth goals at https://gorillacapital.com/funding