Posts Tagged ‘hire contractors’

Real Estate Investors Should Hire Contractors To Handle Mundane Tasks

Monday, June 30th, 2014

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Real estate investors who want to perform every task need to realize that their time is valuable and should put a price on their work.  Investors who are trying to do everything might want to take a step back and hire contractors to take care of mundane tasks, while one makes better use of their time.  Investors who don’t use professionals to help assist them with their investment have in a sense bought themselves a job, not an investment.

Investors who purchase a rental property should hire contractors in order to handle the day-to-day business of a property.  Many investors elect to hire a property management company to take care of these issues.  Investors who don’t have large properties might not be able to afford the services of a property management company.  However, these investors should consider hiring maintenance people in order to keep a property looking new and in good condition.

Investors who are looking to renovate their property should consider the best way to do so.  Investors who want to perform the entire renovation should account for their time.  Some renovation projects take months to complete and those who hire contractors to help with the work can often complete these projects in a matter of weeks.  Investors need to decide for themselves whether their time is best suited performing a renovation alone or hiring help to complete it quickly.

Investors who are in the rehab property field should hire contractors to help them complete a rehab quickly.  Generally, the faster a rehab is completed, the more money an investors earns.  Investors who estimate that a rehab would take them half a year can probably complete the same project in a month or less, if they hire help.  The holding period in this case would be reduced by five months, likely making it logical to hire professional help.

Investors who want to hire contractors should have a good understanding of the cost for doing so.  Since time is valuable, an investor needs to put a price on their labor.  If contractors can end up performing a job for less than this self imposed figure, the benefits to hiring these individuals will likely add up to increased profits over the long-term.  Many times, the best ways to take advantage of contractors is to work side by side them.  This will keep them motivated and increase the amount of manpower simultaneously.

Investors who want to leverage their time should hire contractors to handle certain tasks that are time intensive.

Asking questions with these tips in mind will help save real estate investors thousands.  For more ideas related to real estate investing, call or visit us a Homevestorsfranchise.com.  We are the nation’s number one home buying franchise with over 15 years of experience.  Our company has a vast assortment of real estate investment and real estate franchise opportunities available to help you grow your real estate business.  Come see us for more information.