Rental Property Renovations...handyman or a pro?

[CaesarPua]

Hi REIN community,

I am an active real estate investor focusing on the Hamilton market. My last 3 purchases underwent an extensive property facelift.
- new paint
- new laminate floors and tiles
- new bathtub
- new vanities, new kitchen cabinets
- new sink and faucets
- new sliding closet mirrors that required framing, and drywall installation

This is work that a general handyman can often do, and this is what I used in these cases.

I am curious to know from other investors out there....do you use a general handyman who can do all the updates themselves, hire a general contractor or hire individual trades yourselves?

I am constantly reminded of the value of our time so I have at least outsourced this to a handyman.

However, sometimes, I wonder if I am doing the right thing....should I be hiring the pros, instead of a general handyman?

What are your thoughts?

P.S. If you have a jack-of-all trades handyman that you can refer (quality is key !), I would appreciate it.

Thanks.

Caesar

 

[eddyb1978]

For the types of repairs and reno`s you described i normally use a good general handyman without paying the unnecessary mark ups from a general contractor.. for bigger complex jobs i normally consider the use of a good general contractors if i need to.

what is your email? i can send you my contact.

Cheers,
Eddy

 

[CaesarPua]

QUOTE (eddyb1978 @ Oct 11 2010, 08:55 PM) For the types of repairs and reno`s you described i normally use a good general handyman without paying the unnecessary mark ups from a general contractor.. for bigger complex jobs i normally consider the use of a good general contractors if i need to.

what is your email? i can send you my contact.

Cheers,
Eddy


Thanks Eddy. You can email me at emailcaesar @ gmail . com

 

[housingrental]

On those specific jobs, if possible, I`d get in a separate painter for painting and flooring installer for flooring. Generally hirer quality and generally cheaper.

 

[Sherilynn]

Greetings.

In my experience, for a job that size a good handyman may not be cheaper than a contractor, especially when you consider that a contractor may get a much better price on materials like flooring and cabinets.

Also, a decent contractor will either have a plumber on staff or have a regular subcontractor. And after allowing a jack-of-all-trades "contractor" to do my plumbing once or twice before, I would never do it again. Installing a faucet is one thing, but anything behind a wall or tub should be done by a licensed plumber.

Lastly, a contractor and his team would likely get the job done much quicker.

Regards,
Sherilynn

 

[JimWhitelaw]

Well, my experience is pretty much the opposite of Sherilynn`s. I have a couple handyman types that I like to use and they have been quicker and cheaper than general contractors I`ve worked with. I would use a contractor for any job that requires permits or new construction. I also have a professional painter that I call on for some jobs, especially ceilings - those are a complete PITA if you don`t have the right equipment.

Sorry, I can`t help you out with referrals for GTA.

 

[torontowest]

I would second JimWhiteLaw in saying that it would depend on the complexity of the job. In my experience, contractors have to be scheduled in and sometimes they may not have someone ready to get to your job for a couple of weeks (this is my experience in the GTA) and this may not be feasible for smaller jobs, and I hate to keep a place vacant to get stuff fixed or renovated.

Over the years, I have compiled a rolodex of trades for plumbing, painting, drywalling etc that I regularly use and have been successful, but playing the role of a contractor does take time away from other things but often times I`ve realized saving between 25%-40% between contractor quotes and direct sourcing. I would recommend going with a contractor for full blown renovations and sticking to dealing with trades on individual fix-up jobs such as bathrooms, kitchen cabinet replacements, flooring, electricals etc.

 

[stepchuk]

I`ve found that I generally get the best bang for my buck using a handyman who has the ability to sub-contract should something be out of his league (ie. a complex plumbing or electrical issue). I`ve found that this can save me time (I am dealing with only one person as opposed to multiple, makes scheduling with tenants easier, and eliminates alot of the finger pointing that can come with various non-related tradespeople trying to work together. Not sure about what the market in Ontario is like for handymen, but they can be tough to find in Alberta (good ones that is.) Much easier to find in BC.

 

[MrHamilton]

Hi Caesar,

Haven`t seen you at the REIN meetings or Hamilton Investor meetings in a while!

We (Melissa and I) also invest in Hamilton and we too have done significant renovations all of them: New bathrooms, new kitchens, new roofs, new doors, fire rated drywall, new porches and we even jacked up a foundation. You name it we`ve done it.

95% of the time we hire individual trades peoples because we want things done right the first time with minimal supervision. We also have excellent relationships with all our trades because we use the same people for Melissa`s business of Bathroom and Kitchen renovations.

The only times we don`t are for lower value, lower skill work so we`ll have a co-op student paint or a family member do some small parging work.

A general tip to any investor who will be hiring a handyman or tradesperson: get referrals; interview them; ask if they have insurance; ask how their last five jobs went; treat them as a valued member of your team; if you`re going to meet them at the job site, ask if they`d like anything from Tim Horton`s or Starbucks. Take them out for a beer at the end of the work day, get to know them and build a relationship. And most importantly, pay them on time!! You have no idea how often these people put in time, effort and $ for materials and don`t get paid. The extra 10% goes a long way. And if you do all the above do you think they`ll be more willing to reciprocate and put in the extra 10%?

All the best!!
Erwin

 

[Sherilynn]

QUOTE (ErwinFromBurlington @ Oct 24 2010, 01:56 PM) Hi Caesar,

And most importantly, pay them on time!! You have no idea how often these people put in time, effort and $ for materials and don`t get paid.

Absolutely! I always pay my contractor the day that I get the bill. Perhaps that`s why he is willing to do smaller jobs for me at a reasonable price.

Regards,
Sherilynn