Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 12 years ago,

User Stats

198
Posts
59
Votes
Steven Maduro
  • Decatur, GA
59
Votes |
198
Posts

Handyman specials how i got creative when money got tight

Steven Maduro
  • Decatur, GA
Posted

I had two properties that were going vacant at the same time
one was a dead beat tenant that I had to evict after she only paid two months rent.
the other was on a house that I basically just put someone in to keep a person in the house to make sure it was occupied and wouldnt be vandalized.

I have a dedicated contractor who will do good work for cheap but he was unavailable and i was cash poor.
it looked like I may have had to just let the properties sit until I could come up with more money.

then I got an idea rent the place as is
take off the money I would have paid my contractor to do some of the work and get a handyman or licensed trade skill type guy. t rent it.

I ended up getting a skilled tradesman in each house.
one guy is an actual house builder that hit bad times during the recession the other guy works with his father installing and remodeling bathrooms and kitchens.

both these guys came signed the lease
on the first tenant I allowed him to move in with security plus 200.00
the difference was the paint and drywall repair and cabinets stained and house cleaned. that I would have paid someone else to do out of pocket which I didnt have.

gettting that money allowed me to take care of a 350 plumbing problem and a furnace issue that came up

the other house
the guy moved in for security plus 300 for the first two months less than half the actual rent because he is going to do all the painting and the bathroom remodel
some drywall repair and hang ceiling fans.

he is working alongside my contractor and my contractor has now gotten a new partner and he has okayed this guy to do the work
all things worked out.

and now my two houses have some capable people in them
who wont come crying everytime there is a minor problem

I know this isnt the ideal way to do business
but I sort of started out over extended.

I wont resort to this tact all the time I just was on hard times and needed a solution

and this seems to have paid off just thought I would share.

Loading replies...