Mark Feder

Pacific Home Mortgage Funding Inc. San Diego, CA

  • Home
  • About
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Blog
  • Testimonials
  • Contact

DIY Or Hire It Done, Renovating Real Estate Investment Properties

June 13, 2014 by Mark Feder

DIY Or Hire It Done Renovating Real Estate Investment PropertiesSometimes, when buying – or even thinking about buying real estate for investment purposes, you’re faced with the need to fix up the property. 

The question then arises: Should I fix it up myself or hire it done? Unfortunately, no one can give you the right answer. However, there are a few questions that you can ask yourself to help decide the issue:

1. Do I Have The Time?

Time is an issue that many people forget about, but it should be one of the deciding factors. Some renovations, such as handles, hinges or kitchen hardware can take very little time to do. Others, like retiling a bathroom, can take hours, or even days to accomplish. 

If you don’t have the time to do these things personally, you’ve already answered the question.

2. Do I Have The Money?

Obviously, money is as important a factor as time. Often, if you don’t have the time, you do have the money to hire someone. However, if you have neither the money nor the time, you may need to reassess whether you can really afford the real estate you’re thinking of buying. 

You may want to continue looking to find something that needs fewer repairs or that you can get at a lower price.

3. Do I Have The Know-How?

Granted, there is a lot of do-it-yourself information out on the Internet. However, if you don’t have the necessary knowledge to understand what they’re saying, you’ll either have to research more, or hire someone. 

Being knowledgeable on what you’re doing may not be so important when, say, you’re painting the living room, but it’s incredibly important if you need to rewire a room or want to knock down a wall.

The main key when deciding on what property to buy, what renovations need to be made and whether to do it yourself is simple: Be realistic. Be honest with yourself.

Can you really do this? Can you really afford it? Remember, if the answer is “no,” it could just mean “not right now.”

Don’t be afraid to wait until you have everything in place before picking your investment properties. If you’re careful with your time and money management, you may find yourself able to buy that dream real estate investment property.

Filed Under: Real Estate Tips Tagged With: DIY, Homeowner Tips, Renovating Real Estate

Mark Feder

Mark Feder

Mortgage Advisor
Phone: 858-337-1520
Fax: 800-919-8840

DRE #01210598 • NMLS #867081 Pacific Home Mortgage Funding
Company DRE #01926221 • NMLS #1018245
Real Estate Broker – CA – Department of Real Estate
Pacific Home Mortgage Funding, Inc.
4060 30th Street
San Diego, CA 92104

Get a Rate Quote →

Connect With Me!

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Previous Posts

Recent Articles

  • How To Avoid Delays When Remodeling
  • The Best Ways To Get To Know Your Neighbors
  • Save Money On DIY Projects Around The House
  • The Top Tech Upgrades For Your Home During A Home Improvement Project
Equal Housing Lender

Categories


Pacific Home Mortgage Funding, Inc.
4060 30th Street
San Diego, CA 92104

Copyright © 2022 · Powered by MySMARTblog