Is taking the do-it-yourself (DIY) approach a wiser money move versus hiring a professional? It’s a commonly debated issue among individuals looking to rehab properties. As to which approach works best for you, it’s a matter of taking a couple of factors into account.
For starters, what are you looking to accomplish with the project and what budget have you calculated? Did you make sure to run the numbers as accurately as possible? Perhaps more importantly, you also need to take a realistic look at your level of skill when it comes to being hands-on. If the project involves a permit, however, it’s perhaps best to let a professional take care of it.
If your aim to develop your company includes rehabilitating multiple properties at the same time, you may find that DIY isn’t the best way to go for you. You will not only need to manage your own time, but you will also need to balance your work with that of several contractors at distinct addresses.
There’s more to managing multiple properties than funding. This involves juggling pieces, plans, and individuals that are progressively complex.
This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money lenders Palm Beach or Orlando hard money lending, please call 954-816-0388 or fill out our application.