Sometimes this is a good idea. Doing some of your own work gives you a hands-on appreciation of real estate investing and the mechanical workings of your properties. It can be easy, however, to bite off more than you can chew. I know that there are some investors who, for example, like to install their own carpet. This is a job that I won’t touch with a ten foot pole. Sure, with some effort and ingenuity I could wrestle my way through it. But compared with an expert using professional equipment I’d probably spend twice as long on the job and get results that look about half as good. Time is money; you should value yours and take it into consideration when trying to decide whether or not to tackle a job yourself.
Getting bogged down in an over-budget, over-schedule repair or rehab is often a major factor for real estate investors who burn out early. Plan on getting the right help and factor that into the cost before you jump into a new investment. This will go a long way towards preserving your sanity.
