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Has anyone applied a project management methodology to a house flipping business?
I am wondering if anyone has had any experience applying a proper project management methodology to house flipping. I am currently doing research about the business and, as a current practioner of project management according to PMI's standards, I am considering how the experience I already have is applicable to this industry. It doesn't matter if your own experience is not related to PMI as long as it's a formal project management methodology you're using, even if tailored to your specific needs, of course.
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Dear Rafael
Interesting your question
Thanks for sharing

Can it be approached as a project?
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1 reply by Rafael Pérez
Jan 13, 2020 7:00 PM
Rafael Pérez
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Yes, it certainly can. Given that by flipping houses I mean buying a house, doing remodeling and/or renovating work on it and then selling it for a profit, it is in the project economy by nature.
I don't see why not. Can pretty much apply to some degree to anything. I personally don't have experience aside from stuff we did with our own homes or rental properties.
Initialize it
Plan it
Execute on it
Monitor it
Close it
With each having some activity, probably pretty much repeatable from property to property.

Whether those that are in the business realize it or not, they are applying some sort of project management, otherwise would not get done.
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1 reply by Rafael Pérez
Jan 13, 2020 7:01 PM
Rafael Pérez
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Totally agree! Thank you for your feedback.
Hi Rafael, as an architect and PM I can tell you that PMI methodology is most certainly applied to flipping houses. And it fits like glove.
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1 reply by Rafael Pérez
Jan 13, 2020 7:01 PM
Rafael Pérez
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Could not agree more. Thank you for the good feedback.
I would take a lean startup approach to it and do an MVP to validate the business model first...
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1 reply by Rafael Pérez
Jan 13, 2020 7:02 PM
Rafael Pérez
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By lean startup you mean Eric Ries's model? Thank you for the feedback.
The project management principle can be applied to most of your life activities!
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1 reply by Rafael Pérez
Jan 13, 2020 7:02 PM
Rafael Pérez
...
It can indeed. Thank you for your response.
Jan 10, 2020 3:20 PM
Replying to Luis Branco
...
Dear Rafael
Interesting your question
Thanks for sharing

Can it be approached as a project?
Yes, it certainly can. Given that by flipping houses I mean buying a house, doing remodeling and/or renovating work on it and then selling it for a profit, it is in the project economy by nature.
Jan 10, 2020 7:41 PM
Replying to Andrew Craig
...
I don't see why not. Can pretty much apply to some degree to anything. I personally don't have experience aside from stuff we did with our own homes or rental properties.
Initialize it
Plan it
Execute on it
Monitor it
Close it
With each having some activity, probably pretty much repeatable from property to property.

Whether those that are in the business realize it or not, they are applying some sort of project management, otherwise would not get done.
Totally agree! Thank you for your feedback.
Jan 11, 2020 3:35 AM
Replying to Flávia Bexiga
...
Hi Rafael, as an architect and PM I can tell you that PMI methodology is most certainly applied to flipping houses. And it fits like glove.
Could not agree more. Thank you for the good feedback.
Jan 11, 2020 7:45 AM
Replying to Kiron Bondale
...
I would take a lean startup approach to it and do an MVP to validate the business model first...
By lean startup you mean Eric Ries's model? Thank you for the feedback.
Jan 11, 2020 11:30 AM
Replying to Vincent Guerard
...
The project management principle can be applied to most of your life activities!
It can indeed. Thank you for your response.
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