Just bought another fixer upper in Vermont

[Krystina L.]

Hello! I've been reading BP for a while, and thought I'd introduce myself. My husband and I own a mixed use 4 unit in Chester, Vermont that we renovated over the past 12 years. We have also been renovating our SFR for a few years in preparation to rent it out and purchase another property. We found a great deal on a large victorian down the road and picked it up recently. The next few months will be tricky since we're not quite ready to rent out our house and move into the new fixer upper, and we'll have to make payments on the HELOC we used to purchase the new place. The new place will likely be two units and we might try our hand at vacation rentals since its such a cool building in a great location. We will do all of (or most of) the renovation work ourselves. Our goal is to invest and fix up a diverse portfolio of properties, in Vermont and eventually out of state, to eventually bring in enough of a passive income through our investments to quit the day job. So here we are, jumping into real estate with two feet!

[Peter Amour]

congrats :)

i know that sometimes we all want to do our own work , but if you have full time jobs it can actually be cheaper to hire out . we did some flips that took us almost 9 months ( my business partner on some deals like to dabble ) i find that between making mortgage payments, taxes, heat, insurance and then the lost rent or opportunity costs , it can be way cheaper to hire it out .