When Do You Hire Contractors? Please Read
Another thing on my mind, read some real estate books on investing in rehab, tthey say get contractors in and do the job, but **** then your paying an arm and a leg. I guess my question is what do most of you get contractors in and fix up , and what do you do as the handy man if any?
Thanks
Bard[ Edited by joel on Date 07/07/2003 ]
You get contractors if you NEED them. You do it YOURSELF if you can. You DON"T BUY A HOUSE IN THE FIRST PLACE that won't make you money, whether it's because the sellers won't go low enough on the price for your expenses, or because the cost of contractors to fix would make your profit margin unacceptable.
Hello Bradleya,
There are a few things such as hotwater tank installation, plumbing installation, electrical wiring that will require code inspections as well as be licensed to do the work. Therefore you will have to contractors in to do the work. You can save a buck or two by hiring your own contractors vice getting a general contractor to sub-contract the work out.
Are you a full time rehab'er? If not I have just found it easier to structure the loans so that you have built in money for the rehab along with enough money to make a profit after the rehab. It is all about purchasing the right property that will best fit your investment goals.