Do you know the risks you can face when flipping houses?
To start, one thing that investors do not realize when flipping houses is that, by default, they become general contractors. They are the ones who will be subcontracting all work for the property. This means that if they do not have contractor liability then they could potentially be left exposed.
Moreover, one has to be extremely mindful about who they hire and what kind of coverage is had over the project as a whole. In addition, the structure should also be insured after the fact.
Watch the video below to find out more information: