Should I Hire a Part-Time Handyman?

[Dan Kelley]

I currently own 10 units (2 duplexes and a 6-plex.) The duplex I just purchased vacant and it needs some cosmetic work. The 6 plex is currently only 50% occupied and 2 units need some thorough renovating (all new flooring, cabinets, bathroom gut job, wall taken down, etc.)

I have yet to establish a real great relationship with any contractors in the area. One group quoted me $12,000 to remodel 1 unit. Mind you, this is an upper C to lower B class property. The other folks I've worked with are better on price, but flakey and not great at sticking to deadlines.

My most recent idea was to basically "hire" a part-time handyman-type-fella. Someone that I interview, determine their credibility, and then basically keep "on call" at all times to handle anything that comes up. Whether it be checking a leaky faucet, or working on a total rehab. I was thinking that, due to cash flow limitations currently, I'd find somebody who'd work for around $20/hr for 15 hrs/ month. As I get more units, the hours could continue to grow. Or especially if I purchase a flip property, the guy could work as many hours as he wanted and potentially help GC the project. 

Is this a foolish strategy? Are there even guys out there who would fit this bill? My biggest hold-up is wondering whether there is someone who's schedule works out well enough that they have an extra 15hrs/ month free to be "on-call". They certainly wouldn't always need to drop what they're doing to respond to a call, but there will be those occasional emergencies.

Is this idea worth pursuing or should I just keep searching for a contractor I can bring in on an as-needed basis? Thanks for your input.

Dan

[Jill F.]

I Trade rent for handyman services (We own 21 units and are in the process of purchasing more). There are tax advantage for using a resident manager (and I always have enough work to keep him busy).