I own a whole bunch of rental properties.
I read the book Rich Dad, Poor Dad and it changed my life.
The book shows you that in order to make money, you need to invest in assets. I started buying stocks that very day. I have slowly upgraded my rental portfolio. A big portion of the book is to constantly be working to obtain more assets that make you money. The author stresses using your time wisely. So therefore I shouldn’t be doing electrical, plumbing and HVAC work on my rental properties. My time is valuable and I don’t need to do that. It is super great hiring out for all the necessary services. I have gotten quite a good team through trial and error. I have an electrician that accepts cash and gives me a deal on work. My HVAC tech is a local guy that is a one man operation. The plumbing business I use is very professional. I get a new guy every time but I know the tech is certified and licensed. The guy knows what he is doing. I have hired out drain line service, gas line repairs, water heater removal, septic tank issues and just basically piping issues. The company is versatile in what they can do. What is doubly nice is that anytime I feel the need to renovate my home, I have a whole staff of qualified workers. When my wife wanted to update the bathroom, I just called the local plumbing to install the toilet, sink, shower drain and controls. He got me all set up for the handyman to take over.