DIY Or Hire It Done
Sometimes, when buying - or even thinking about buying - Louisville 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 you 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 your 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 fire someone. However, if you have neither the money nor the time, you may need to reassess whether you can really afford the Louisville 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 Interest. 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. A great resource now a days is going to You-tube to resource it and view it on video. 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 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? Is it in the budget to still make money, as I prepare to flip this home or rent it. How long if I rent will it take to get my money back? 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 whether it be in downtown Louisville, Oldham County, Shelby County, Bullitt County, Jefferson County, or Spencer County.
Le me help you find that perfect real estate investment property for you. Call me Karen L. Rodriguez with Integrity Group Realtors at 502-643-2255 or email me at soldbyk@gmail.com.
If you have purchased that real estate investment property or even doing some renovations on your current home and need a few contractors names, you are welcome to call or email me for a list of contractors I use. Good Luck!
For more information about real estate in the Louisville, Oldham, Shelby, Spencer, Bullitt county areas, contact me, Karen Rodriguez, at 502-643-2255 or email soldbyk@gmail.com. Years of Experience, Experience the Difference! You may also search all available properties for sale on my website and save your favorites.
Go to: WWW.SOLDBYK.COM to search ALL Greater Louisville Properties for sale including Southern Indiana and all counties.