Are you handy with a hammer?
Are you considering doing all of the renovation work on your next fix and flip project yourself?
If that’s the case, we recommend proceeding with caution. There are certain jobs that lend themselves to the DIY investor but others that definitely do not. Understanding the difference from the get-go is key.
The following projects are good candidates for rolling up your sleeves and doing it yourself:
Grab That Paintbrush
When it comes to painting a room or two, most investors find this an easy and relatively cheap project to undertake themselves. For the cost of a few gallons of paint, this is a good way to transform the space instantly. As long as we’re not talking two story foyer here, you should be fine tackling this one on your own.
Green Your Space
These days potential home buyers put a lot of stock into curb appeal. A home that presents well on the outside can seal the deal—so make sure your next flip makes a good first impression. And you don’t need to be a professional landscaper to make it happen. A quick trip to your neighborhood garden center or home improvement store to stock up on a few shrubs and perennials can do the trick.
Tile One, Tile Two
Another fairly straightforward skill to master is tiling. It can be as simple as laying out the tile and ensuring that it is evenly arranged before adding adhesive and grout. A nice, simple subway tile can freshen up the space and add a modern touch. No need to track down an expert here unless you’re getting fancy with tile patterning.
But before you get carried away and start thinking that you can handle all of the repairs single-handedly, consider the downside. Some jobs are better left to the experts, for good reason.
Respect The Pipes And Wires
A good plumber or electrician can be worth their weight in gold. WIth strict education and licensing requirements, these professionals know what they are doing. This matters—especially in situations where making a mistake could cause serious damage. Who wants to risk a flooded house or electrical fire? Be smart and leave it to the experts — please. And, come to think of it, this goes for HVAC work too. When it comes to heating and cooling issues, it makes no sense at all to wing it.
Demolition Can Be Dangerous
It can be tempting (and somehow cathartic) to start swinging a sledgehammer through walls in your fixer upper. But before you go to town, think about the potential for disaster here. Do you know for certain which walls are load bearing? Removing key supports for the structure is definitely not recommended. And consider what may be behind the walls. You risk damaging essential electrical wiring or plumbing and injuring yourself in the process. This is a hard pass.
We hope that your next fix and flip project goes off without a hitch whether you decide to DIY or not. For more details about all of NavCap’s short-term asset-backed loan offerings, reach out to us at 443.603.0193 or email@example.com. We can help put your next project on the fast track to success.