58: Rookie Reply: Doing The Work Yourself vs. Hiring Out

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 6 March 2021

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week’s question is a very common one that has frequently come from novice and experienced real estate investors alike. If you own rentals, you may be thinking about this as well. When do you do the work yourself vs. hire it out? The answer depends on different factors, such as where your rentals are located in relation to you, how solid of a team you have, whether or not you have experience doing the work, and more. Tony and Ashley both have different experiences when it comes to swinging hammers and laying down floors. One thing they agree on: you want to be in a place where you can hand off the work if needed. Here are some suggestions to make the decision easier: Create systems that allow you to step away if possible Have a great team in place so you always have work to outsource Make a checklist whenever you do a new task Look at your goals and hire out accordingly Read Who Not How, The E-Myth, and Traction And more in the episode... If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie show number 58
0:07.2	Getting very close to the nine or Tony
0:09.8	Yeah, real quick. I got to do that when we get there
0:14.0	Yes, it will be a new tradition
0:17.2	I am Ashley Care your host and I am here with Tony Robinson and today we are taking over the rookie reply with a
0:25.2	A question that we came up with that we hear often and we still ask ourselves that same question every single day
0:32.8	You guys know the drill before we get to the episode. Let's hear a word from our show sponsor
0:40.1	Did you know that traditional homeowners insurance doesn't cover rental property in the event of a claim
0:44.9	With so many potential risks
0:46.6	You don't want to be on the hook for a financial loss for yourself or your renters
0:50.8	That's where steadily.com comes in steadily offers fast affordable landlord insurance online
0:56.4	Simply enter your property address and steadily's powerful tech will provide a personalized quote in just a few minutes
1:02.4	A team of landlord insurance specialists are available via phone email and SMS to refine your coverage and issue a policy as early as the next business day
1:10.7	In the best part steadily finds you the best rate nationwide so you can save time and money on your landlord insurance
1:16.5	That's why landlords nationwide rate them 4.8 out of 5 stars
1:20.4	For single-family properties to short-term rentals to apartment buildings and beyond steadily.com makes it easy to get the best coverage at the best price
1:27.7	So visit steadily.com to find out how you can save with steadily
1:32.5	rental application season is in full swing and we know that finding a new renter one that you're confident will take care of your property
1:39.8	And pay your rent on time and feel overwhelming
1:42.4	Fortunately for you our friends at a valve provide the tools to make the process easier for landlords like yourself
1:48.5	Get the information you need to choose trustworthy renters with the help of a full suite of screening solutions from a valve part of the realtor.com network
1:57.3	Whether you need credit reports background checks eviction history or all three
	...

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