Rehab Yourself or Hire Out

[Matt Carroll]

I just bought my first duplex. It’s one bed, one bath, and both sides need renovating. I am wondering if it is more logical, time wise to hire out the work knowing it will cost more money but be on the market sooner for a rental or AIRBNB option, or if because my first rental I should do the work to save money but it will take longer to get on the market?

[Lorenzo Wright]

I'd start with estimating the time/cost it would take you to do it, then double both (unless you have a decent amount of experience).

Next, I'd get some quotes from contractors with good timelines, then add 20% for overage. 

Compare the two with the expected rents and see which one makes sense.

I really like doing work on my properties, but I do have multiple years of construction experience. Sometimes I only do things that are going to save me the most like cabinets or tile, and then I'll contract out things that take a lot of time and are relatively cheap...drywall...I really hate drywall.