High Profit Tips for Landlord and Rehabbers.....

Rehabbing, Fix and Flip, Rental Properties
1

Tip #1 On some of my rehabs this tip alone has saved me $6,000 or 20%

If you go onto ebay you can buy 10% or 20% off coupons at Home Depot, Lowes, Etc.

Buy a stack of them if your rehabbing then whenever you go in to purchase something use em.

In my area other businesses will always except competitor coupons so I use them everywhere.

I can remember buying $8,000 in carpeting and my little Ebay coupon saved me $1,600. On top of the incredible deal that I already negotiated.

Hope this saves some of you some money!

Tip #2 I’m sure many of you landlords have seen the 5.00 gallons of paint or the 5 gallon buckets of discount paint at home depot or lowes…

The problem is that you end up with 20 different color rooms that you can never again match the color on…

A great way to get around this problem and still get fantastic discount paint is to collect as many discount paints as you can then combine them into one big vat of paint…Making for 1 color.

One landlord (He’s got 480 Units) that I work with routinely does this in 50 Gallon drums and it saves him an arm and a leg on quality paint.

That’s it. A penny saved is a penny earned

2

Great tips.

Here is one of mine that saves some cash.

When I buy a house that is full of furniture and garbage or a tenant leaves a partial house of stuff I put an ad on Craigslist in every area that I can. If there is furniture, toys, electronics, etc, I will put ads in all of those areas and in the yard sale section that says.
[i]
Yard Sale of Free Stuff

My tenant moved out and left their stuff. I have no interest in obtaining anything else. Too much for me over the years.

Tons of stuff. Furniture, toys, lamps, stuffed animals, coffee tables, couch, bed frames, etc, etc, etc.

ALL FREE for the taking. I will be there tomorrow from 5:30pm till 7:30pm. Be there or be square.[/i]

I’ll change the ad a little depending on the section it is in since craigslist will not allow you to post the same ad twice.

Do this, a couple of days prior to the sale. Delete them all and repost them so you have a top position each day (people read through the first or second day of ads and skip to another section).

You will get a number of emails from people that “say” they can’t be there at that time so can they look through it earlier. These people just want to jump the gun and get the good garbage first. I always tell them sorry but can’t for some reason or another.

When I do this, I will get to the house at 5:30 and will have 30-40 people there waiting to get in. Within 30 minutes over half of the junk will be gone. (Yes JUNK). By 7:30 you will have 3/4 of it gone and you just greatly reduced your workload of moving this trash and dump fees.

I never heard of anyone doing this, I just tried it out for the first time a couple of years ago and it WORKS!

3

Cragislist’s “materials”, “free”, “appliances” and “tools” sections are your friend… :biggrin

4

People will take unbelievable junk as long as it is free. I’ve done this on houses I purchase.

However, check your state law-- In Oregon, I am not allowed to throw away tenant stuff under some circumstances. You don’t want to be liable for the “value” if your tenant comes back for his stuff.

5

I got a lot of great tips from this video

http://www.funnyordie.com/videos/fa1420df1f/green-team-from-will-ferrell-adam-ghost-panther-mckay-and-john-c-reilly

6

Excellent tips , very useful to a newbie like me, glad i am in this amazing forum and wish to stay for long time contributing.

7

Wow. great tips although mixing the paint try to keep Flat, Semi, Satin and the
Gloss seperate. My friend is a cemist for PPG and says mixing all the finishes can be a problem. I buy the same 5 gallon drum from Lowes, off white semi-gloss. this way all the apartments have the same paint and no need to repaint the entire wall. Lowes sends out $5 off coupons so use them up.

Another trick to dress up a newly rehabbed Apt or house. Repalce all the old light switches and outlets with white ones and new white covers. A box of them about $6 makes a huge improvement and give a clean look.