Updated over 6 years ago on . Most recent reply
Fixer upper and procrastination
I bought a forclosure on the good side of tulare, ca back in may. So far, I have replaced all the windows and remove 2 large hazardous tree in front of the house via contractors. I am slowly doing demo and cleanup. I am taking my time in fixing it up slowly since I am not servicing the debt. However, I know I have monthly expenses with the property tax, utilities and insurance. I plan to hold and rent it out. I am also adding value by planning on adding a 4th bedroom. I am not adding extra sq. footage. After it is all said and done, I plan to rent it out and do cash out refi. SLOW BRRRR. I would like ur feedback if I should get a contractor to do most of the work or should I develop my skills in doing some of the work, thus saving in labor. I am not a beginner nor an expert when it comes to renovation. I have 1 primary home, a secondary home where I stay when I work out of town. I am currently house hacking my secondary home. I have 1 rental with positive cash flow. 4th property is this subject property. Any thoughts and inputs? Thanks for sharing ur valuable time in reading. I appreciate it more if u would leave me with any feedback or advice. Have a blessed and wonderful day.