Do you count your own time as a cost?
A question for the people here who put money into property instead of markets. I am comparing two things at the moment. A flat in Torrevieja at 148 thousand that needs a full kitchen, and a newer one in Guardamar at 189 thousand that needs nothing at all. The yield people quote for both is around 5 percent, but nobody counts the eleven months I would spend on the first one.
For the last half year I have been tracking exposure time on https://alegria-realestate.com/ as a method, not because I must buy from there, but because it shows how long each type sits before somebody cuts the price. The renovated ones move in weeks. The kitchen projects sit.
So my question is this, do you count your own hours as a cost when you buy something to fix, or do you treat it as a hobby that pays?