If I could share one piece of advice with aspiring real estate investors, it would be this:
Get a good handyman.
On the surface, this sounds like really useless advice. However, it is probably the best advice that you will ever receive, and here is why…
I have witnessed with my own eyes many real estate investors come and go. Thee new investors get excited and buy a rental property, only to end up selling it a short time after. They sell their property because they are overwhelmed with all of the work involved in order to maintain the property. These novice investors are generally not handy people and cannot keep up with it takes in order to maintain their property
One secret that I have discovered over the years is that a very good, reliable and trustworthy handyman can help to keep you in the real estate investing game for the long haul.
They help to keep you in the game in the sense that, you can outsource all repairs and maintenance to them.
This essentially means that you are outsourcing all of your stress and worries to someone else.
By doing this, your level of anxiety decreases, and as such, the idea of owning a piece of investment real estate becomes more bearable.
This ultimately results in an investor being able to hold a rental property for many, many years.
Very recently, I was faced with a large amount of repairs and maintenance on a number of properties. There were so many repairs to be completed on the properties, and there was no way that I could have done any of this work by myself.
I would not have been able to do this work because:
1) I am not handy
2) I would have had no idea where to begin.
Because I have an awesome handyman that I work with, I am able to call him whenever a property needs some work, and he gets to it right away.
In summary, I have realized the following. In order to be a successful real estate investor over the long term, you need a good handyman, that you can outsource all of your repairs and maintenance to.
All the best,
Neil Uttamsingh
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