Rehabbing your property- Rusty Pick-ups vs. Skilled Workers
I found out pretty early on in the business that doing the work on the properties wasn't going to work. I wasn't made to be out there doing plumbing, electrical and dry wall work and was busy with my full-time job and the real estate market.
In the beginning, I bought a lot of the tools and tried to do a lot of the construction work myself. I can remember sweat running down into my eyes and on my glasses one day when I was laying on the floor underneath the sink in the bathroom trying to tighten up a leaky pipe. I just became so frustrated and realized that I needed to start hiring out that kind of work. And, I needed to do it fast. Now, I hire out all that work and have learned that I like to do some carpentry. I like to be around when all the rehab work is going on. I'm the guy running to get the materials and keep people working.
Now,
sale christian louboutin pumps, the people I hired back then to help out were at the very bottom of the pole as far as contractors. These are the guys with the rusty old trucks without a company name, doing business working alone or one other guy with them. They were cheap and so was their work, which was a problem. And, I had problems with them showing up. I'd give them money to buy materials and they wouldn't show up. Sometimes I would only give them half of the money, but that still didn't matter. They'd go buy the material, drop it off and then leave without finishing the job. Some of them were lazy. Some of them were thieves. Some of them would say they were good at everything. I eventually figured out that was a bad indicator, because I learned that I wanted people who were more skilled in certain areas.
I learned along the way that I needed to work with the folks who had a higher skill level without hiring right out of the yellow pages - that was too expensive. I didn't learn this early on,
louboutin shoes on sale, but figured it out after a few years in the business. So I would hire a middle-ranged licensed electrician, a licensed plumber and I would have a general contractor to do demolition work, tear out old carpet and cabinetry and to do the dry wall and put in new cabinetry. I would hire a roofer and another person to do landscaping. And someone else still would clean the property.
I learned though, that hiring someone to do the work for me - even professionals - wasn't without complications. The woman I hired to do cleaning was the woman that cleaned my own apartment and her husband is probably one of the best carpenters I've ever had. They worked as a team together. In the beginning, the three of us became friends. We had a good camaraderie and then something weird happened. When I got my personal residence - a big beautiful home and nicer than the one they were living in - they weren't interested in being friends any more. I don't know if it was jealousy or what happened but it was too bad. I valued their friendship, really like the guy and he was a heck of a carpenter.
So, that's a little bit of what I experienced dealing with renovations in the first few years. E. Alan Cowgill is the owner of Colby Properties, LLC. and President of Integrity Home Buyers,
coach bag black, Inc. Alan is a full-time Real Estate Investor, investing in single family and small multi-family properties in Springfield, Ohio. Since 1995, Alan has bought and sold hundreds of investment properties. Alan uses Private Lenders, not banks; to fund his real estate purchases. By doing this, he has created his own private bank of $2, 000, 000 in funds. Alan looks for "Win - Win" situations, where the seller, the lender, and the eventual homeowner can all "Win". He is not a Realtor, but a Private Investor. Alan has served as an elected official to the Board of Directors for the Clark County Property Management Association. He is an author, consultant and national speaker. He has been asked to speak on the topics of 'Investing for the Beginning Investor. ' and 'Finding Private Lenders. ' His home study system, 'Private Lending Made Easy',
clearance mbt shoes, shows new and seasoned real estate investors how to find private lenders for their own real estate business. His website is http: //www. truthaboutprivatelending. com.
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