It’s a simple question: when you invest in real estate, should you spend your own time doing the labor or hire that workout? I’ve wrestled through this issue for most of my career in real estate; sometimes I’ve done the work, other times I have hired it out. I’ve had good and bad experiences with both and want to share a few stories with you and lessons I’ve learned.
A Tale of Two Houses
The first house I officially tried to “flip” was a large four-bedroom home right before the housing market began to tank. I purchased the home for, what was then, an incredible deal. I then spent the next nine months remodeling the entire thing with just me, my wife, and some friends when they had time. In those nine months, we:
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