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Updated about 3 years ago,
Buying house for cash then renovating yourself
Hi. ive just been wondering lately is it a good idea to buy houses for cash then do ALL the renovations yourself? im not just talking about put some paint and carpet i mean a FULL rehab and i only spend about 10k on rehab obviously its at a way cheaper price to buy and ill end up getting a profit within 2-3 years currently i only have two properties one renting 800$ and other 875$ Fully owned and im under contract to buy another for cash as well. But the rehab process takes me about 2-3 years to finish because i work Full time and only have weekends off to rehab. is this a good idea or am i wasting my time or is there a better alternative? because i read alot of other forms and see people saying they are only making 100$ a month on a property and go into good debt to buy more and that number seems so low and does not make sense to me and people say Time is the most importing thing so im just wondering am i wasting my time doing this or should i be going about this a different way? thanks