Saving money is a motivating force. When you’re renovating an investment property, the value of sweat equity cannot go unexamined—doing work by yourself when buying investment properties, you can save substantially. It is essential to do your research before getting started and have everything you need on hand before jumping in. To do the job correctly, including learning what tools to use, you’ll find step-by-step instruction and even videos to help make your DIY project a success.
Unless you’re an experienced renovator, much of the work that adds value to investment properties will require professional know-how. While the initial price tag may be costly, the alternative of fixing mistakes could be financially devastating. Unless you know what you’re doing, you could cost yourself more in damages to your property than you save by attempting this work yourself. There are five things you should do and five you should leave to the pros when buying investment properties.
Things To DIY
Simple and straightforward in most cases, you can handle demolition on your investment properties. Just be sure you’re following safety guidelines for protective wear. When it comes to taking a sledgehammer to cabinets, you may also experience a side benefit through stress relief brought on by physical exertion.
Once you’ve completed your demolition work, areas may need to do some patching or install new drywall when you make updates to your investment properties. Drywalling is heavy work that may require help but should be simple enough for most investors to handle.
Keep in mind the basic theory behind staging when it comes to making selections for the color scheme in your investment properties. People who touch items assign ownership, and a higher intrinsic value to them, previously owned belongings hold lower value. By refreshing surfaces, depersonalizing, and using neutral tones, you increase worth and decrease vacancy periods.
When buying investment properties, flooring, in most cases, is something that many are willing to take on. If you already have attractive flooring, consider taking on a facelift with a resurfacing or deep cleaning of grout and tile work.
With the right equipment, you can paint your own investment properties and make it appear as if you hired a pro! Invest in the best paint you can afford, along with painter’s tape for super clean lines and lasting value.
Leave It to a Pro
Getting on a roof is extremely dangerous. Leave everything from minor repairs or a new roof to the pros when buying investment properties. You should check your insurance policy on the property to ensure that a roofing job done without an approved contractor won’t cause them to deny a claim in the future.
Leave plumbing to the pros when buying investment properties, the potential for causing water damage runs high with what may appear to be a seemingly simple bathroom redo.
When pouring cement in areas of your foundation, mistakes could compromise your structural integrity. Even a driveway improperly formed could end up causing damage or even injury to visitors and lawsuits. These the pros when buying investment properties
If a load-bearing beam is involved, call in an architect and save yourself from the standard error of moving walls. Leave this task to the pros when buying investment properties.
2nd Chance Investment Group LLC. will help you find the best flips and handyman specials for your investment properties. If in doubt, it is most definitely worth your while to give us a shout at 2nd Chance Investment Group LLC.. We’re here to help! Contact 2nd Chance Investment Group LLC. at 866-593-7012 today!