All Forum Posts by: Ray Hutchinson

@Noah Chappell wow thanks! Sounds like you have so experience with that first hand! I think also overtime the DIY process would get faster from the experience being gained. However I do see how it can cause a bottleneck and why it’s important to probably just pay a GC or handyman upfront bc it takes away from me finding my next deal or segmenting into the next step of marketing to get a tenant into the property once Reno is completed. Thanks for your insight you seem very knowledgeable!

@Corby Goade That makes perfect sense! Thank you

@Dani Beit-Or so basically look at it from a project management standpoint so I can generally see which projects are quick and easy and which ones would cause a bottleneck if I were to do it myself with little to no experience. That is an outstanding idea. It also helps to organize and keep track of the project to see everything that needs to be done and I can get a high level view and track the progress of the project to completion. That is beyond helpful! Thank you!

@Jon K. that makes total sense! I didn’t even consider the fact that I’d be losing out on money due to holding up the flip by doing renovations myself. Sounds like I should either get a GC and their team or if I really want to do some things I can do some of the quick and easy things like paint or replacing bathroom vanity and toilet. Thank you for the insight.

I would like to add that it also depends on the market you are looking to purchase the townhome. As the old adage goes, It's all about location, location, location. For instance here in the DC area, a townhouse would be a great option because it would allow renters the option to live in home and they can possibly have pets and less noise as opposed to an apartment like most renters usually result to in this area. In addition, since the cost of living is higher here in the DC area, you could more than likely factor the HOA fee into the rent as well and it will still generate cash flow from the investment because the cost of rent is high.

Hi everyone I am new to the BP community and REI. When it comes to home renovations for fix and flip or fix and rent would you recommend hiring contractors or doing as much of the renovations yourself if you have the capability? I have the "handyman gene" as they call it that was passed down from my father. If I acquire a fixer upper would it be better to do as much of the renovation myself? I know that in terms of cost it would be a lot cheaper for most of the renovations. A little background info about me, I recently acquired my first home purchase in the DC Area which was a 1 bedroom condo just outside of DC in Arlington thanks to the VA Home Loan. Since my first property is turnkey I am looking to rent it out soon since Amazon will be building their new HQ here and it is literally across the street from the Pentagon so it would be ideal for military and government workers to rent as well.I am also thinking about investing in my next property and beginning to research the next place to invest, I am leaning towards the Midwest market. I would appreciate your input on this.