Weekend Rehabs
I have a question for the more experienced rehabbers.
I am new to investing, though I have helped several people in their rehabs.
There's something about fixing broken homes that seems rewarding and I would like to do it more often. Especially for profit and investing.
However, right now I don't have alot of time to spend on rehab. Maybe only the weekends.
My question is: Is this an area of investing I should look into if I only have a limited amount of time to dedicate to actual rehabs?
Hello Holiday,
What type of rehab work do you specialize in? Are you licensed?
I have seen ads in the local new paper for painters, drywallers, plumbers, ect. I am sure you will be able to hire out our services if your work and prices are as good or better than others in the field. Just state that you are able to work weekends or after normal working hours. The calls should flow like water.
Also keep in mind that you will have to be able to hold the property the entire time you are rehabbing. This could get costly depending on how long it takes you to do the repairs, not to mention the cost of the repairs. This could change your equasions a bit.
Dan
I think detroit answered my question.
Rehabbing may be too expensive an area to start in. Especially if I have to carry the potential mortgage for several months.
Thanks all.
Holiday
Don't get down ,sub out most of the work, do what you like the most on wkends, take the profit at the closing table. Repeat these steps quit your day job like I did and keep your holiday
Right now I live for the weekends. My day job si gratifying and actually pays well, I just don't want to do it forever.
I may stick with the bird dogging to generate some investing funds then I can get more into the rehabbers.
Thanks for all the advice.