DIY or Hire it Out ?
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DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 3:28 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 3:40 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 3:55 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 3:57 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 3:58 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 4:07 AM
       DIY or Hire it Out ? (by J [IN]) Apr 11, 2018 4:14 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 4:31 AM
       DIY or Hire it Out ? (by LindaJ [NY]) Apr 11, 2018 4:43 AM
       DIY or Hire it Out ? (by Sisco [MO]) Apr 11, 2018 4:45 AM
       DIY or Hire it Out ? (by Dave [MO]) Apr 11, 2018 4:57 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 5:00 AM
       DIY or Hire it Out ? (by Deanna [TX]) Apr 11, 2018 5:12 AM
       DIY or Hire it Out ? (by plenty [MO]) Apr 11, 2018 5:18 AM
       DIY or Hire it Out ? (by Sisco [MO]) Apr 11, 2018 5:20 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 5:24 AM
       DIY or Hire it Out ? (by David [NC]) Apr 11, 2018 5:26 AM
       DIY or Hire it Out ? (by myob [GA]) Apr 11, 2018 5:28 AM
       DIY or Hire it Out ? (by Ken [NY]) Apr 11, 2018 5:29 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 5:41 AM
       DIY or Hire it Out ? (by Nicole [PA]) Apr 11, 2018 5:46 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 5:54 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 5:58 AM
       DIY or Hire it Out ? (by Vee [OH]) Apr 11, 2018 6:02 AM
       DIY or Hire it Out ? (by S i d [MO]) Apr 11, 2018 6:04 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 6:21 AM
       DIY or Hire it Out ? (by mike [MO]) Apr 11, 2018 6:31 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 6:34 AM
       DIY or Hire it Out ? (by GKARL [PA]) Apr 11, 2018 6:36 AM
       DIY or Hire it Out ? (by AllyM [NJ]) Apr 11, 2018 6:55 AM
       DIY or Hire it Out ? (by S i d [MO]) Apr 11, 2018 6:55 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 7:03 AM
       DIY or Hire it Out ? (by Steve [MA]) Apr 11, 2018 7:10 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 7:11 AM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 7:20 AM
       DIY or Hire it Out ? (by Busy [WI]) Apr 11, 2018 7:25 AM
       DIY or Hire it Out ? (by NE [PA]) Apr 11, 2018 7:26 AM
       DIY or Hire it Out ? (by RathdrumGal [ID]) Apr 11, 2018 7:32 AM
       DIY or Hire it Out ? (by Ken [NY]) Apr 11, 2018 8:40 AM
       DIY or Hire it Out ? (by fred [CA]) Apr 11, 2018 12:28 PM
       DIY or Hire it Out ? (by gevans [SC]) Apr 11, 2018 12:35 PM
       DIY or Hire it Out ? (by LisaFL [FL]) Apr 11, 2018 12:42 PM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 3:05 PM
       DIY or Hire it Out ? (by RB [MI]) Apr 11, 2018 4:27 PM
       DIY or Hire it Out ? (by Mike [PA]) Apr 11, 2018 5:52 PM
       DIY or Hire it Out ? (by Roy [AL]) Apr 11, 2018 6:25 PM
       DIY or Hire it Out ? (by Ken [NY]) Apr 11, 2018 6:46 PM
       DIY or Hire it Out ? (by Roy [AL]) Apr 12, 2018 1:50 AM
       DIY or Hire it Out ? (by Chris [CT]) Apr 12, 2018 1:37 PM

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DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 3:28 AM
Message:

Lets assume you have a SFH that has come vacant and it needs some upgrades and some repairs. This is a small 2/1 -700 square foot house.

1. Remove 10 existing windows and replace with new double pane vinyl windows.

2. Install 5 new 'home-run' 20 amp electrical outlets,...one in each room.

3. Make small drywall repairs - ie. door knob type holes in walls

4. Paint the entire inside of the house - including the doors and ceilings.

5. After painting is done, clean the entire house - both inside and out.

6. Mow the lawn and trim the hedges

My question is: Would you do the above jobs yourself or Hire it Out ?

If you choose to DIY,...what is your reason(s) ?

If you hire it out - do you have one person who can handle all of the above tasks at a reasonable cost ? --68.63.xxx.xx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 3:40 AM
Message:

I would hire out the windows, cleaning and lawn care. Everything else is just another day at the office.

You only need one homerun for 5 plugs. You don't need 5 dedicated circuits, unless 2 are kitchen and bath. --50.107.xxx.xx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 3:55 AM
Message:

NE,

When you have tenants using space heaters in each room,..yes.. 5 dedicated circuits are needed. 2 (15 amp) heaters on one circuit will trip the breaker.

Do you agree? --68.63.xxx.xx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 3:57 AM
Message:

If you're running all those wires, why not just run baseboard heat? --50.107.xxx.xx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 3:58 AM
Message:

Roy, you're assuming they will use the correct plug? --50.107.xxx.xx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 4:07 AM
Message:

Sorry for the triple post. Thinking more about it, no I don't agree you need 5 dedicated circuits.

I would run 12-2 on a 20 amp breaker to the kitchen and the pick up the bathroom. I would then do the same to the living room and then pick up the 2 bedrooms. 2 circuits.

Also, I wouldn't do this solely for the purpose of them running space heaters. I'd get a heating system installed.

--50.107.xxx.xx




DIY or Hire it Out ? (by J [IN]) Posted on: Apr 11, 2018 4:14 AM
Message:

I agree just put in 240 baseboard heat and 1 plug circuit per room maybe 2 if you put in a dedicated ac plug. I like my baseboard thermostats on the wall if possible. My answer is do do what you enjoy. If you like doing windows, do them yourself, if you prefer to write checks then hire it all out. Myself, I have been having a hard time getting contractors to show up so I have been doing more myself. I enjoy it but it takes me forever to get a project done. In an ideal world I think I would hire it all out and focus on management. Guess it depends on what you can afford. --67.236.xx.xx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 4:31 AM
Message:

This post is NOT about how to rehab a house or how many dedicated circuits are actually needed. We can discuss that at the next Mr. LL convention.

Now,..speaking of the next Mr. LL convention,...the theme this years is "Do Less / Make More Money".

I made this post in direct response to that theme. The real question here is this: How do I do less (with a typical vacancy that needs repairs/upgrades) AND make more money???

Is it in my best interest to hire it all out OR do the jobs that I am capable of and then hire out the rest?

--68.63.xxx.xx




DIY or Hire it Out ? (by LindaJ [NY]) Posted on: Apr 11, 2018 4:43 AM
Message:

Things change as I get older. Years ago, I probably would have DIY for all of it. Now my back is not as strong, but my wallet is fatter, but I have more time.

In my case right now, I would hire out the windows and electric (and plumbing). I will mention, the person(s) I hire are people I work with doing a project, so I am still watching what they do, doing the supply run, and more of the little stuff.

I would probably do the drywall repairs and painting myself, especially is such a small unit. Depending on how badly the shrubs need trimming and other outside work, I might DIY. A lot of the DIY would be done while the contractors do the other stuff. --96.236.xx.xx




DIY or Hire it Out ? (by Sisco [MO]) Posted on: Apr 11, 2018 4:45 AM
Message:

I would hire it.

I doubt that I would replace windows in a house as described. I would not home run 5 20 amp services for space heater heat. I believe that your tenants are trying to destroy your house .

I would focus my time on attracting better tenants and avoiding more nitwits. --72.172.xxx.xx




DIY or Hire it Out ? (by Dave [MO]) Posted on: Apr 11, 2018 4:57 AM
Message:

Hire it out. --12.146.xxx.xxx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 5:00 AM
Message:

Sisco,

Old worn out windows create a huge maintenance issue with me at every turnover. If I can do anything that reduces maintenance cost at turnover,..then I make more money. Installing Allure instead of carpet is great example of this. Installing Allure has cut my floor maintenance cost down to almost nothing. New windows reduces my maintenance cost also and they attract better tenants.

No, my tenants are not trying to destroy my house. You have a tendency to make too many incorrect assumptions about my houses and tenants.

--68.63.xxx.xx




DIY or Hire it Out ? (by Deanna [TX]) Posted on: Apr 11, 2018 5:12 AM
Message:

Windows go to my $30/hr guy.

Electrical outlets go to my electrician. I don't mess with electricity.

Drywall repairs, painting, and cleaning go to my $10/hr guy.

Yard work goes to my yard guy, for about $40.

They'll get it done sooner than I would. They would get it done better than I would. The thing that I could do is painting... I'm about half as fast as my husband, and twice as fast as my $10/hr guy. :) But at least my handyguy starts the project, and sticks with it, versus me, who am always getting tugged in many different directions, and I lack the focus that I could have if it was just the biz.

I'd rather pay $400 for a window install, and $300 (or whatever) for the electrical (when I add electricity, it's usually focused, like a new kitchen circuit, not hodgepodge all through the house), and $40 for the yard work, and $250 for the painting/drywall, and $50 for the cleaning-- and have everything done in a week-- rather than try to save $x and drag it out over a month as I bounce back and forth between obligations. --96.46.xxx.xx




DIY or Hire it Out ? (by plenty [MO]) Posted on: Apr 11, 2018 5:18 AM
Message:

1. Remove 10 existing windows and replace with new double pane vinyl windows. (Hire it out. Why time, they are much faster and cost savings)

2. Install 5 new 'home-run' 20 amp electrical outlets,...one in each room. (Hire it out, more qualified, safety, time)

3. Make small drywall repairs - ie. door knob type holes in walls ( DYI, can do while waiting for windows and electric repairs, cheap, i can, to pay some one would cost three or four times what it should, cause it's a small thing)

4. Paint the entire inside of the house - including the doors and ceilings. (I like to paint, would consider doing this if i felt like it, it's a small house, but if i found someone to do it for under$500 and i buy paint, i would let them, saves time)

5. After painting is done, clean the entire house - both inside and out. ( i would do this, cause i get to know the house better and can catch small details)

6. Mow the lawn and trim the hedges ( this is also therapy time for me, nice weather i would consider doing it, cold or wet conditions, or if I'm painting I'd hire it out and have it done while I'm painting, clone yourself)

My question is: Would you do the above jobs yourself or Hire it Out ?

If you choose to DIY,...what is your reason(s) --99.203.xx.xxx




DIY or Hire it Out ? (by Sisco [MO]) Posted on: Apr 11, 2018 5:20 AM
Message:

Roy, for the reason that I would hire out this work, it would be expensive; therefore, I would pass on the window/ electrical upgrades.

We are discussing a cheap house in an area that has no price appreciation. Were we discussing A different house in a different area, I probably would have a different opinion about window replacement.

My guess (shaped by experience) is that cheap vinyl clad windows exposed to Alabama summers will need repairs too.

--72.172.xxx.xx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 5:24 AM
Message:

Often times it's worth doing it yourself if your doing the right work. I have to wonder if those circuits are the right answer i.e., the right work.

Wasting time doing DIY, is simply a waste and may make things worth hiring.

It also doesn't do anyone any good hiring out the wrong work either.

Will the electrician tell you the circuits are a bad idea or will he do what you want and bill you regardless? That's deserving of an answer, not only for this, but for many landlord's who want something done that isn't necessary.

If your hiring it out, you need to know what you're hiring out and why. --50.107.xxx.xx




DIY or Hire it Out ? (by David [NC]) Posted on: Apr 11, 2018 5:26 AM
Message:

I hire because I don't have the time to do it myself --71.50.xxx.xx




DIY or Hire it Out ? (by myob [GA]) Posted on: Apr 11, 2018 5:28 AM
Message:

Hire it out but with the stip I will be supplying ALL necessary supplies and supervising the project on site. (Al nothing says you have to camp out there but in and out during your daily trips to other places. --99.103.xxx.xxx




DIY or Hire it Out ? (by Ken [NY]) Posted on: Apr 11, 2018 5:29 AM
Message:

Roy,I am capable of doing those jobs but I would hire it all out.I have a guy that I would hire to do the sheetrock repairs and painting,i have a lady who does my lawns so I would add it to her list and I have another guy who would do the rest of the repairs.It would cost me $18 and $25 per hour and the lawn would be a set price.I don't do any repairs myself anymore and here is the reason,i have more profitable things to do,i buy houses at foreclosure auctions so I need to go see the houses for upcoming auctions,i need to be at the auctions.It also keeps my mind from being cluttered with little things like going to Home Depot etc and lets me think about how I want to put a deal together etc.I am realizing that putting down the tools and doing more profitable things all day is a lot like a drug addict quitting drugs,you have to be ready mentally to do it.Roy,you are good at finding deals,if you want to you could start finding deals all day long and supervise guys doing the work and just have the new houses cleaned out and resell as is. --72.231.xxx.xxx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 5:41 AM
Message:

Deanna,

Last week, I hired (2) $10.00/hr. people to paint this house. I had to babysit both of them and before the end of the day, I fired both of them. I then called a professional painting company and they quoted me $1,500.00 to paint everything (they hate painting ceilings) and I turned them down and just started doing the painting myself.

Everything else in this house I have hired out. --68.63.xxx.xx




DIY or Hire it Out ? (by Nicole [PA]) Posted on: Apr 11, 2018 5:46 AM
Message:

When I did the majority of work myself, I'd have hired out 1 (new windows) & 2 (electrical outlets) and possibly 4 (painting) - depending on what else was going on at the time. Everything else I'd have done myself.

I still do a lot but not major time commitment projects. Someone half my age can do the work in half the time it takes me. I still do a lot of small, quick easy fixes/projects by myself as I can do it quicker than I can explain what I want done to someone else.

--72.70.xxx.xx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 5:54 AM
Message:

Ken said, "Roy,you are good at finding deals,if you want to you could start finding deals all day long and supervise guys doing the work and just have the new houses cleaned out and resell as is."

Great answer Ken!!! Not too long ago, I use to spend my 'spare time' finding deals for other investors. This worked out great and was very profitable until it backfired on me. I no longer find deals for other investors,..I am done with that.

What I am trying to do now is to maximize my profit with the existing rental house inventory (15) that I have now. I do not need more houses,...I need to learn to squeeze the most profit out of what I have now.

--68.63.xxx.xx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 5:58 AM
Message:

Roy, if you're not growing your inventory anymore, one great way to squeeze MORE profit out is to DIY.

What will you be doing while you babysit others who are working? --50.107.xxx.xx




DIY or Hire it Out ? (by Vee [OH]) Posted on: Apr 11, 2018 6:02 AM
Message:

Royal, you are not real far apart from my age and you found out easier to DIY than hire the acting guild representing painters, and how many times has this occurred? I too just listen to the stories how good people can paint - then nearing the end they tell the truth (throw up in Mike Butler's words), you just keep slopping on the paint and smearing it around - your paint by number undergrads and 85 percent do just that, the floor is work for the cleanup crew - hehehe... --76.188.xxx.xx




DIY or Hire it Out ? (by S i d [MO]) Posted on: Apr 11, 2018 6:04 AM
Message:

Roy, what's your goal? You said to make more money and do less....i.e. the Convention theme.

The only way you can do BOTH is if the value you bring to the table doing activity X is more than activity Y, and it FURTHER ASSUMES that there is enough activity X to fill your time.

We each have (as David likes to remind us) 24 hours in a day.

We each allocated some many hours for "work", "play", "eat", "sleep", "drink beer", etc.

Lets say you have 10 hours for "work".

If you are not busy replacing windows or patching drywall, what else would you be doing? Would you be scouting for more deals (high $ activity) or mowing yards (low $ activity)? Or would you just sit around the house and do nothing (no $ value, but perhaps very high FREEDOM value).

I would hire those jobs done....all of them. Here are the reasons you asked for: 1) I don't have the expertise to run electric circuits and hang windows 2) I don't like being on my knees all day for several days doing flooring. 3) Windows, electric, and flooring are the big jobs in this scenario, and if the hired guys are already there it makes sense to let them do the other work as well.

Yes, I have folks who can do all this stuff. They range in price from $25/hour (paint, windows, floors, etc) up to $50/hour (electrical work).

I think I gave you the answers to the questions you asked. If not, let me know what's missing. --173.17.xx.xx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 6:21 AM
Message:

Sid,

Remind me,...and we will continue this discussion in St. Louis. Maybe Jeffrey will give us some additional ideas on how to "Do Less and Make More Money".

I have a few ideas of my own on "How to do less and make more Money" and one of these ideas is to begin 'Owner-Financing' my houses out to first time home-buyers. I am not talking about RTO or Lease Options here,..but actually acting as a bank and carry the paper for the life of the note. Here I can continue to receive monthly payments and hopefully transfer all maintenance cost to the borrower. --68.63.xxx.xx




DIY or Hire it Out ? (by mike [MO]) Posted on: Apr 11, 2018 6:31 AM
Message:

hire out

windows

paint, prep, clean, lawn make ready

If I had time, I'd do the electric

--99.82.xxx.xxx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 6:34 AM
Message:

Roy, assuming you don't have a go-to handyman to do all of this, are you getting several bids from different people for everything?

How much time are you spending getting bids vs just doing it?

For the sake of the conversation. --50.107.xxx.xx




DIY or Hire it Out ? (by GKARL [PA]) Posted on: Apr 11, 2018 6:36 AM
Message:

Unless it's the simplest of things, my default position is always to hire. I don't have the time and working like that takes the fun out of counting the money. I have one business already where I have to "do" more than "manage". With the rentals, I strictly want to manage. --207.172.xx.xxx




DIY or Hire it Out ? (by AllyM [NJ]) Posted on: Apr 11, 2018 6:55 AM
Message:

I would have hired out the windows, though I did replace eight of them myself on a first floor when I was younger. I would then have done the rest myself. --69.141.xxx.xxx




DIY or Hire it Out ? (by S i d [MO]) Posted on: Apr 11, 2018 6:55 AM
Message:

We can certainly continue the conversation, Roy. It's a good one.

I know some folks who carry paper. As has been discussed here many times, 95% of these deals fail to complete, and often there is much deferred or shoddy maintenance work.

Many home buyers today want perfect homes with zero maintenance. Think of your average tenant who calls you when the toilet gets plugged or a light bulb burns out. We have to ask, is it wise to trust that person to swap out a water heater?

Everyone thinks their drunk uncle who once worked for an HVAC contractor as a "go-fer" to get parts is an expert at fixing everything. He is the one who will be doing work on these owner-financed houses.

I am not saying "Don't Do it"...I am saying proceed with caution. Dodd-Frank has also introduced a lot of rules that may apply. Get expert advice, a fat down payment, and do a serious gut-check before turning renters who can't/won't qualify for a traditional mortgage into home owners. --173.17.xx.xx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 7:03 AM
Message:

NE,

I have a 75 year old go-to handyman who will be installing my new windows. He is a master carpenter and can do many things, but he is a horrible painter.

In addition to a great handyman, I have a roofer, an electrician, plumber and an attorney which I give regular business too and they cut me a deal on being a regular customer.

To turn the tables on you, just for the sake of conversation, if I had a day job pulling down 6 figures, then it would be a no brainer to just 'hire everything out and don't worry about the cost'. However, I have not had a day job in 35 years and so that option is not available to me. When rents are you ONLY income, the decision on what is DIY and what can be hired out is a whole new ballgame,...quit your day job and you will learn quickly what I am talking about! --68.63.xxx.xx




DIY or Hire it Out ? (by Steve [MA]) Posted on: Apr 11, 2018 7:10 AM
Message:

Roy, except for the electrical (I'm not licensed for electrical work) I would either have my own crew do the carpentry stuff, my cleaner do the make it look beautiful stuff, one of my niece's kids do the yard work. If we were swamped with our regular paying projects I have 2 different handymen that could do everything except the windows (they are not RRP certified).

I presume that this is the same property that you were asking about using the space heaters in. Since you know how your renters really behave, I suggest that you use 12-2 wire with a single 20 amp outlet, each one on it's own 20 a circuit. The difference in cost between 15 amp & 20 amp shouldn't be much. I would make this "dedicated" space heater outlet a different color than the others in the room. Hopefully between the single outlet vs the duplex outlet and the odd color your tenants will learn to use the correct outlet for their space heaters. --72.93.xxx.xxx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 7:11 AM
Message:

Roy, I quit my day job before I bought my first property and haven't looked back since.

--174.201.xx.xxx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 7:20 AM
Message:

NE,

Can I assume rents are your only income? If yes, then you know what it is like being down in the trenches and having to watch every dollar that comes in and goes out of the checkbook.

I just made my reservations for St. Louis. Will I see you there? --68.63.xxx.xx




DIY or Hire it Out ? (by Busy [WI]) Posted on: Apr 11, 2018 7:25 AM
Message:

Do less, makeover money. Regarding the electric outlets for space heaters- Search / screen for applicants who will use the nice gas heaters you already have. Put it right in your ad. Then make those gas heaters prominent in your in-boarding process. Boldly! Done!

for the other stuff, for me, I tend to hire out the stuff where I can get it done right, with minimal supervision, as I have little patience for babysitting adults. So, I pay more up front, but don't have to revisit those items. Like windows. WW and done.

For me, making money is about getting good tenants and keeping them longer. Other landlords in my area have yearly turnovers. Training, communication enables me to keep tenants longer, so lesser turnovers.

You are an excellent communicator on this board. Use those skills with your tenants to extend length of stay, get referrals for other good tenants. You can be the guy who has a list of five to ten well-qualified applicants at all times waiting for you to have an open unit. (Well qualified is class specific, IMO. Class C tenants can be great, if you communicate well, and Roy, you do!)

--70.92.xxx.xxx




DIY or Hire it Out ? (by NE [PA]) Posted on: Apr 11, 2018 7:26 AM
Message:

Yes I will be at the convention. I do know what it's like in the trenches, because most days I am in them. But they are my trenches. My income for my entire family comes from my rents. My wife just quit her day job in February and is now a stay at home mom. I also do flips occasionally, not as many as I used to. Simply for the fact that I am not finding them as frequently as I used to. I also look for properties constantly. If one comes up, I drop what I'm doing and go look at it as soon as possible. So my growth does continue. The do it yourself versus hiring everything out is talked about on here all the time. There are way too many variables for it to be a one-size-fits-all answer. For me it works out excellent for me to do most of my work myself. You either have the stress of the work or the stress of the workers. It's your choice. --174.201.xx.xxx




DIY or Hire it Out ? (by RathdrumGal [ID]) Posted on: Apr 11, 2018 7:32 AM
Message:

Building is going crazy in my area, and so finding good help is getting tougher. My go-to handyman is booked way out.

I don't have a lot of DIY experience except in fixing drywall holes (I am an artiste!), painting, gardening and cleaning. Out of necesiity, I am learning minor plumbing and electrical repairs.

My standard is 1) watch a few You Tube videos on the task that needs to be done, 2) try it if it looks doable. Worse case, I could always call the handyman. I am so proud of myself when I can fix something, it is embarassing.

I would hire out the windows.

--98.146.xxx.xxx




DIY or Hire it Out ? (by Ken [NY]) Posted on: Apr 11, 2018 8:40 AM
Message:

Roy,why don't you want to continue finding deals? I don't mean be a bird dog and get $500,i mean buy it cheap and mark up the price --72.231.xxx.xxx




DIY or Hire it Out ? (by fred [CA]) Posted on: Apr 11, 2018 12:28 PM
Message:

Licensed, insured and bonded skilled help doesn't come cheap. If you hire subs, you will be taken to the cleaners.

Unlicensed, uninsured w/o bond unskilled help is out there. Do you really want to hire them? they could be your nightmare.

If you know these trades and have experience...do them yourself, and save big. Caution: Trades like electrical, windows and plumbing have penalties (future damages) for doing jobs which don't meet code.

The key to making money in landlording is to be able to make a vacancy ready in the least time possible. So you decide how to achieve that goal.

In my rental business I do it all, with one day laborer. --99.59.x.xxx




DIY or Hire it Out ? (by gevans [SC]) Posted on: Apr 11, 2018 12:35 PM
Message:

Short answer:

I hire out what I don't like to do and do the rest myself IF I am not slowing down the job.

I'd rather pay the job to someone else and have it ready in a week than do everything myself and lose a month's rent.

So... If I have time, and I like the job (and I like many of them) I'll DI myself. If time is an issue or I hate the job, I'll always hire it out.

--98.122.x.xx




DIY or Hire it Out ? (by LisaFL [FL]) Posted on: Apr 11, 2018 12:42 PM
Message:

Roy,

I've been the bank on a few occasions. But selling outright is certainly the easier way to go.

So far none of my owner finance deals have gone wrong (I had eight of them, one recently paid me off.) I only gave them to folks with an excellent payment history and who didn't need me to finance them but we went that route so it was a win-win for both sides.

Actually, that's not completely true. I sold one to an unknown owner occupied couple. I required a greater down payment and higher rate than the others. They are also the only ones I don't escrow for. What do you know...they're behind on their taxes. Had to hire a lawyer to issue a warning and they managed to pay the taxes due. So I'm hesitant to do loans for "unknowns" now but if I had to take this one back I'd still be OK. Still I really hope they refinance or sell soon.....has a ten year balloon with six years to go. --75.89.xx.xxx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 3:05 PM
Message:

LisaFL- Will you be at the convention? If yes, I need to talk with you about your owner-finance deals. I will buy you dinner too. If no, well, I am SOL. I will just have to find someone else at the convention who has done owner-finance deals to talk with.

Ken (NY) - I have always been a buy and hold type investor. Buying cheap and then re-selling (flipping) has never been a part of my mindset. Everything I have bought dirt cheap gets rehabbed and rented out for max. cash flow. For the last 12 years, I have followed a very simple investment strategy (Jay DeCima was my mentor) of buying, rehabbing and renting them out and I am just now beginning to reap some serious rewards from it.

I have not given up on buying houses,...I actually bought one just 2 weeks ago. I will be looking for another one soon. Whenever I want a bargain house, I just run my Handyman Ad in the newspaper and then all of the desperate house sellers are calling me instead of me calling them. My Handyman Ad works like a charm. --68.63.xxx.xx




DIY or Hire it Out ? (by RB [MI]) Posted on: Apr 11, 2018 4:27 PM
Message:

Do you mean the Handyman Ad I read about 40 years ago? --47.35.xx.xx




DIY or Hire it Out ? (by Mike [PA]) Posted on: Apr 11, 2018 5:52 PM
Message:

regardless of what you do and what you hire out, you will still need to mange what's hired out.

After 30 yrs in this business I can honestly say I've seen more crappy work from licensed contractors than from a drunk guy looking for beer money. So my point is just because its hired out doesn't mean its gonna be done correctly.

Awhile back I posted about licensing and insurance. Its meaningless because at least around here, "workmanship" is not covered under a contractors insurance, so they could do crap work and your on the hook for it. --24.115.xx.xxx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 11, 2018 6:25 PM
Message:

Mike,

I completely agree with you. I hire out a lot of work and I manage each one of them. I am there when they are actually doing the work and this is good because they know I am watching them. Just because someone is licensed and insured does not guarantee you jack $hit.

RB - I am referring to the Handyman Ad that I created in 2009 to locate sellers who were willing to make me a deal if I was willing to buy their house. At my first Mr. LL convention in 2011, Jeffrey forced me to get on the stage with a microphone in my hand and preach to 300 people how I use this easy-peasy technique to get desperate house sellers to call me,...instead of me wasting valuable time trying to locate them with bandit signs, direct mail or whatever. --68.63.xxx.xx




DIY or Hire it Out ? (by Ken [NY]) Posted on: Apr 11, 2018 6:46 PM
Message:

Roy,i think you should run the ad year round and keep the best deals and resell the rest,dont down play bandit signs,some of my best deals come from bandit signs --72.231.xxx.xxx




DIY or Hire it Out ? (by Roy [AL]) Posted on: Apr 12, 2018 1:50 AM
Message:

Ken,

Whatever works for YOU,..is just fine for me. My Handyman Ad does not work for everyone who has used it,..but it does work for me. If you are a 'texting type' only person, it will not work for you,...you have to be comfortable answering your own phone and be able to talk 'business' with a total stranger calls from this AD. A lot people have a problem with this. --68.63.xxx.xx




DIY or Hire it Out ? (by Chris [CT]) Posted on: Apr 12, 2018 1:37 PM
Message:

I'd call all the relevant subs and get it done. --24.45.xxx.xxx



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