There are a handful of home improvement projects that almost any landlord can do such as mowing the lawn, painting or repairing a clogged toilet. However, once you get into specific niche repairs you open up a can of worms. Even if you are handy or have experience with the niche, it is not the same as doing it yourself. What typically happens is that you put a band-aid on the problem instead of getting to the root of the issue. In fact, you usually end up paying more for someone to fix any work you did. Saving money and watching the bottom line are essential but you need to know your limitations. Here are five property tasks you are better off outsourcing.
As a landlord there are a handful of items that you should expect to pay for. Know what you can do and understand when you should pay to have things done right.
The strength of your investing business is in the people you surround yourself with. You can have access to capital and a good plan on putting it to use, but if your team is poor, ultimately you will suffer. The importance of your team is magnified as you are just starting out. You are pulled in many different directions and aren’t sure exactly which way to go. It is critical to have several team members you can lean on for advice and guidance until you find your footing. Even when your business takes off you will still find yourself relying on your team in almost every area of your business. A good team doesn’t ensure success, but it certainly makes things a whole lot easier. Here are five essential team members for any new investor.
There is literally another dozen or so members you could add to the list, but these are the core five. If you are just starting out look to fill these five spots and go from there