Investing In Property With Handyman Skills
Did you know that you can actually put your handyman skills in good use when investing in property
? Instead of being a contractor for construction and home repairs, one thing you might want to venture into is rehabbing houses. This mode of investing in real estate properties is very profitable today, especially for those who have the skills set to turn old houses into new homes.
What rehabbers do is they buy cheap and old houses. They then make the necessary repairs so the property can be marketed again and later sold for a huge profit. Most investors in this business cart away a check of $30,000 per transaction. The good thing is a transaction will only last from a few weeks to a few months, depending on how fast the repairs are completed. This real estate investing method is flourishing today because there are still scores of cheap properties in the market that may be rehabbed. Investing in property today is more profitable because of these affordable houses.
Handymen, or those who know how to make home repairs and other odd jobs, have the advantage when it comes to
rehabbing. Thats because they no longer have to hire a contractor and a whole team of workers. You can save a lot from labor costs this way. However, you will still need the help of other workers for heavier activities like installing a new bathtub. Also, you will need to hire professionals when it comes to certain risky repairs like electrical and plumbing problems.
The good thing with doing the repairs on your own is that you are able to predict better when the project will be completed. Some investors have long complained of contractors disappearing on the first day of work. This leads to delays and delays translate to money loss for investors. Take note that when you do a rehab, you must be able to complete the project as soon as possible to minimize your expenses. And when investing in property, less expenses is always better.
Some investors also encounter contractors who do shoddy work. The investor ends up regretting having assigned the job to that man and losing money. But if you are a handyman who can do the work on your own, you will not experience such dilemma. By using your handyman skills when investing in real estate, you are able to save money and save time.
Want to learn more about this business? You can go to
Rehab-Real-Estate.com right now and discover great things about doing rehab projects.
by: John Myers
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