How do I learn to become a handyman?
August 16, 2011 8:05 AM Subscribe
How do you gain "handyman" skills to the extent that you can manage a rental property?
I've always rented an apartment and never had a reason, or a chance, to fix things up myself.
I'm currently saving for a house, but instead of purchasing a single family house, I want to try to purchase a duplex or something similar. I would like to have at least one or more units that I can rent out.
I have read up on this subject and many people suggest that for it to be profitable, you have to know how to do things like repair leaks, paint, change carpet, etc.
I'm fairly limited in my house repair skills. Let's just say, if it involves more than changing a lightbulb, I hire someone to do it.
I think I'll start by attending home improvement workshops at places like Home Depot and volunteer with Habitat for Humanity.
But maybe you have some experiences or ideas I haven't thought of. How did you learn to become a handyman?
posted by abdulf to home & garden (20 answers total) 29 users marked this as a favorite
This book deals with home repair as it relates to landlording.
Also, pick up a nice, thick, general home repair book. Look at Youtube videos and the This Old House web site.
Also, depending on where you are buying, the old adage that you must fix things for a rental property to be profitable is NOT TRUE because home prices are in the toilet. Combine that with banks that are super conservative when it comes to making home loans to new homebuyers and people with questionable credit, and you've got a high-demand rental market with abundant and cheap real estate. It is the best combination you could possibly hope for. I know landlords in my city that are picking up foreclosures for 40k, contracting out the repairs, and then renting them within a couple of days on a two year lease for $800+.
So, talk with a few management companies and see what they would charge to manage the property for you. It might be worth it. Then make your decision.
posted by Ostara at 8:14 AM on August 16, 2011 [1 favorite]