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Updated over 4 years ago on . Most recent reply
Do you really need to be handy to be a landlord?
I want to buy a three family home. I am not handy at all, most people I talk to say not to get into a multi family property if I’m not handy. Is this true? Should I take their advice?
Though I know other who have said that it’s really that that big of a deal.
what do you think?
Most Popular Reply
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Nathan Gesner
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You don't have to fix everything yourself. In fact, I personally recommend against it for the following reasons:
- Most handymen are not as handy as they think. They tend to do shoddy work that may impact tenant relations or the overall quality of the home. Doing something wrong may end up costing you more in the long run.
- A good contractor will have insurance to protect all parties.
- It takes your time. If your goal is financial independence or freeing up your time for other pursuits, you don't want to be plunging a toilet at 9pm on a Sunday.
- The more involved you are with your renters, the more likely things will go south on you.
Just some things to consider. I own 25 rentals and hire out almost everything.
- Nathan Gesner
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The DIY Landlord Book
165 Reviews
4.7 stars