Standardize Materials, Paints and Supplies for Rentals

Great post, for rental units, standardization is very key for future repairs. That way you don't find yourself running around wasting time to repair each unit with different parts or fixtures every time something needs attendance.

Also keeping a supply closet of basic tools and items that see more wear and tear then usual, such as items in public area's is another good thing to do. Remembering from my days it the service, the dorms we had all had service closets with necessary items for cleaning and doing minor repairs.

When purchasing goods for a rental property, The standard goods you can buy will always over-ride the discount warehouse's you can buy from. Just make sure you can...Get more of a good if it need be and for the people that do not know...Paint is probably one of the products that you will use in your Rehab/Maint projects that you can get 30% for the retail price.Remember you are a business and that is the key.

Great points! Sticking with your basic neutral colors are a great way to save on expenses. Because you can buy 5 gallons ata time. You also want to go with a washable flat for the walls. Because the flat look will help hide small imperfections and by it being a washable surface makes it easier to clean. When ever you can always look in the oops section and pick up paints that are a mistake in color and now they become your bargain. The 50 5gallon bucket becomes 20 dollars, the 30 dollar can becomes 5 dollars. I always pick them up and save them for a future project. Continued success........Lubertha

Thanks for the comments and additional tips. Organization and standardization is key for success. The less thinking you have to do on rentals, the more thinking you can spend on finding the next deal. Make sure your list and notes are always being updated for changes and new information, tips and ideas such as these. They go along way and when your investing career hits into high gear, you already have the plan in place! Good luck with your rentals. Believe and Achieve! - Joe

Thanks for the information. Great comments and tips. Every dollar saved goes to the bottom line of profit. Be sure to compare products, sizes and costs. as Noted above, when buying a discount item it is usually good to make sure you have ebnough, becuase you may not be able to find more if you do not buy enough such as square flooring tiles.

Also, you may be surprised when you see a bottle twice the size for 10% more than the smaller bottle, etc. So be sure to shop, compare, and standardize your shopping list. Understand the deals from the disounts. A little planning can go a long way. Good luck. Believe and Achieve! - Joe

Thanks for the tips and sugeestions. Another point may be to keep a small notebook (or excel spreadsheet) record of the colors of paint you use at a property. If it is a rental, the property may need minor touch-up so the quarts of paint can come in handy for future touch-ups after tenants move. Also, a better quality paint may cover better than a lower quality so understand what brands need 2 coats compared to 1 coat for saving on your labor costs. Good luck with your rentals. Believe and Acheive! - Joe

When I bought my first rental I used my hardware credit card(not sure if we can say names here)and bought my paint. I used a five gallon white semi gloss for the whole house which I painted by myself over the next six days. I looked at flat but thought the ease of wash up from boo boos on the wall would be better. You can sometimes get rebates on the 5 gallon paints along with the gallon but the manufacturer was only giving $20 on the 5 gallon and five dollars per the gallon? Go figure?

My carpet I had them measure and bought the pad and carpet on the card along with 12" peel and stick tile. (Like Dean said in one of his posts) Also bought a back entry door, refrigator and dishwasher. The best thing was when I was doing this I was earning 10% back in $50 gift cards for every $500 I spent.

Watch for the great bargins that are out there and try to plan your remodels when you can get the best deals with the least amount of money up front. By the way I also did not pay any interest with 12 months same as cash!

Take care Joe and keep up the great buys!

Thanks for the comments and additional input. I believe the additional tips are very useful and do agree that a semi-gloss finish can clean a little better. When doing a kitchen or bath, the special "kitchen and bath" paints work a little better especially with the moisture in the air. The credit card rewards are also nice incentives. Thanks again for the additional tips. Good luck with your REI. Believe and Achieve! - Joe

Where is the best place to get appliances for your rentals? Do you get them from Lowe's, Sears, or small name appliance store? If you get them from Sears do you always add on the maintenance plan or skip it all together?

I got mine at Lowe's when they had free delivery & haul away. You can even get free hook ups on most but dishwasher will cost you I know. But that sometimes can be rebated to you in a check.

I also go with the carpet special that is still ok but better last year. You now have to pay for carpet removal and haul away.

No I don't buy the extended warranty.

Note: Read that 80% of extended warrants are never used. The manufacturer's warranty is good usually for one year and most defects will appear in that time. But the choice is yours.

Thanks for the comments. I usually get my appliances at either Lowe's, Hoem Depot or Sears. The nice thing is usually these stores are close together so when you go shopping youcan look at each one in a matter of under an hour. My favorite appliance for rentals is the floor model or a scratch or lightly dented one. Usually these appliances can be discounetd 25% or more. I also like to compare who has what and whether it is in stock. Often there are salesto save an extra 10% etc. Thus shopping around can help. As a rule of them, I never get the warranty. For me I have had luck with the appliance and a good one will last. If I purchase a hgiher end appliance for my home, I may consider the warranty but usually do not get it. I hope this helps. Good luck with your rentals and real estate. Believe and Achieve! - Joe

Thanks for sharing your information and insight. It is great to hear what others are doing. Good luck with real estate. Believe and Achieve! - Joe

Another tip to save time and money, and for security of your tenants is to use the same brand locksets for all your rentals. At the end of the lease agreement, you can remove the tumblers from each set and rotate them from rental to rental. Its cost effective, and adds protection. Keep in mind some tenants will make copy of the keys and come back to steal property from your current tenants. Good luck with your investing.

As always great info. It will be much cheaper in the long run as well, you can buy in bulk and always have on hand to fix/touch up. Thanks for sharing,

Jeremy

Thanks for the tip on rotating lock tumblers. This is a great tip. I also like the idea of having one key for each rental. So the keys can be cored the same for the front door, back door and the garage. Thanks again and good luck with all your rentals. Believe and Achieve! - Joe

Thanks for the comments. I am glad the information is helpful as we all move a step closer to financial freedom! Good luck on all your deals! Believe and Achieve! - Joe