Being a landlord presents a great opportunity to have an income stream and build equity. With being a landlord comes many responsibilities, repairs being one. Landlords should know that DIY repairs can save you money, come with risks, and take your time.

What Landlords Should Know About Doing Their Own Repairs: DIY Repair Can Save You Money

When you consider doing DIY repairs the most important factor is if it is within your abilities to do the repair. Some repairs may be more complex than you realize. If you don’t already have tools necessary for the repair, it may end up costing you more. However, if it is a simple repair, you won’t have to pay a professional to come and do it, which will save you money. It can be worthwhile to do a little research beforehand to see if the repair is doable. You can also find many tutorials and videos online to help you and will save on the money you would’ve paid for a professional’s time.

DIY Repairs Come with Risks

DIY repairs can be a physical risk to you and to your property. You should always make sure you have proper tools and enough knowledge, or you could make a problem worse. When you are making repairs, you may be at risk for cuts, falls, etc. For this reason, you should always wear the correct protective equipment. For example, you should wear rubber shoes when doing roofing work to prevent falls.

What Landlords Should Know About Doing Their Own Repairs: DIY Repairs Take Your Time

While DIY repairs as a landlord can save you money, they do take up your time. You have many responsibilities such as filling your property with tenants, making sure they pay rent on time, and performing maintenance and repairs. These tasks can end up eating up your time, especially if you have multiple rentals. Depending on the age of the property, you may spend more time doing maintenance than on newer properties. Some repairs can take multiple days or weeks. You can free up some time by having management software and delegate when needed if a property is more than you can handle on your own.

After considering the pros and cons of being a landlord, you don’t have to choose DIY or not DIY right away. You can be a DIY landlord over time. You can start off with smaller projects within your abilities and learn more as you go.

Check out this article on how to avoid constant repair headaches in real estate!

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
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