Do real estate investors fix "fixers" themseleves?

Question

Or do they hire people. I'm talking about run down properties that are fixed then sold for a profit.

Answer 1

In my honest opinion, as an Investor, it's better to do the work yourselves. That's if you can. Most people who start Investing have the dough or means of getting it but do not have the skills and time to do the work themselves. On our last flip that grossed 82k we only hired a contractor the clean our furnace. Everything else we did and we saved a ton. We pay ourselves a paycheck every week and you better believe that if we ever had to hire anyone to do the work, we'd be spending way too much. The biggest thing is time is an issue. Contractors work at their own pace. Most do not understand the importance of how quickly things need to be done. I will not put my fate in a Contractors hands. We save $$ doing it ourselves and that's the whole point. The less money you have to spend - the bigger return!

Answer 2

That depends on the investor.

You have some that have the money and do the physical work as well. Some of the work they might hire out, but they are there every day with a tool in their hands.

Then there are some that simple put up the money, taking no part in the physical portion at all, though they might come to the work site occasionally to check and see how things are going. But this is so very seldom. They rely on someone else to do the entire project, their sole activity is putting up the money..

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

Some do but since the cost of the "fixing" is a deductible expense and your time isn't, it's probably better to hire someone.