One of the main things that many investors find themselves buying when flipping properties is paint. It’s something so simple — and relatively affordable, particularly when compared to the other things that you have to purchase for your average fixer-upper — but it can make a huge difference in your property. These are a few tips for using paint when flipping properties that can help you save money and improve your properties as much as possible.
Don’t Replace — Paint!
There are so many things in your average fixer-upper that can be painted rather than replaced, which can save you a ton of money. For example, painting cabinets that are in good condition but that don’t look very nice can be plenty. Even register returns can be spray-painted rather than replaced.
There are even products on the market that can be used to paint unexpected things, like paint that is made to redo your counter tops or paint that can be used to paint an old bathtub. Spend some time perusing the paint area at your local home improvement store, and you might be surprised by the products that can be used to save parts of your fixer-upper that you thought you’d have to replace.
Buy in Bulk
You’ll probably be using a lot of interior paint within your fixer-upper, so there is no need to purchase paint by the gallon. Instead, look for larger buckets of paint that can stretch further — they’re usually cheaper per gallon, saving you money. You can even add tint to small batches of it, which will allow you to get different colors out of one bucket of white paint.
You can also purchase other necessities in larger packages to save money. For example, if you’re painting a lot of things in your fixer-upper, you may want to purchase things like paintbrushes in bulk. Many home improvement stores sell “contractor packs” that sell these items in bulk at a discount. It’s a good way to save on other things that you are buying for your property, too, such as outlet covers or simple light fixtures.
Do it Yourself
Unless you know a lot about construction and home renovation, there is a good chance that you’ll have to hire a professional to help you with a lot of things when fixing up your investment. However, one thing that you shouldn’t have to hire a pro for is to paint.
Painting is relatively easy once you get the hang of it, and you can save a significant amount of money in labor charges by doing it yourself. If possible, gather up friends or family members to help you.
After cleaning, the first thing that you should do when fixing up your property is paint. You’ll want to paint before the new flooring is put in and before other improvements are made; then, if you make mistakes and spill paint, it won’t be as big of a deal.
One of the few exceptions to this rule is if your fixer-upper needs foundation work; foundation damage and repair can cause the walls to crack, so they’ll need to be repaired and painted after the foundation work is done. Otherwise, you’ll probably want to tackle this job first.
Luckily, paint can make a big difference in how your fixer-upper looks, which can make the whole process a lot less overwhelming.
Although you’ll probably need to make lots of other improvements to your fixer-upper, painting is a great place to start. If you need help in funding your project, contact us at Center Street Lending — we love fixer-uppers and can help you secure the fast and easy funding that you need.