If you’re like me, you aren’t planning on rehabbing just one or two houses a year. In fact, once you get your real estate investing business going, you probably plan on rehabbing multiple houses in a month. If that’s the case, you can help yourself out big-time by knowing the best materials to use on all your rehabs. When you have a few go-to renovation materials, you won’t always have to go shopping (or send your contractor shopping) to get started on your rehabs. Plus, you can save money on bulk items, and you can save time trying to decide what to buy for each individual property. Here are several of my favorite materials for any rehab.
Matching Stainless Steel Kitchen Appliances
When your buyers walk into your kitchens, you want them to be blown away. After all, kitchens sell houses. That means, for almost every rehab you ever do, you’ll need to replace all of your kitchen appliances. I like to buy stainless steel refrigerators, stoves, ovens, dishwashers, and microwaves in bulk because I know they’re going to match, and when I get the same ones over and over again, I know their measurements so I won’t run into issues with fit.
While you won’t run into issues buying the same refrigerator and oven over and over again, I can’t say the same thing for paint. You can use and reuse some colors, but you can’t just say, “ I’m going to paint all of my houses red on the outside and mocha on the inside.” That’s why I really like looking through the “oops” section at the hardware store whenever I buy paint. All of the paint you find in this section is perfectly good paint, but they were mixed wrong from what the customer requested. Instead of throwing the paint out, stores sell them at a discount, which is great for home renovators.
While you not be able to paint a whole house in a batch of discounted paint, you can definitely find enough for accents and rooms like the kitchen or bathroom. Sometimes you can even find enough for the whole interior of the house. It’s always worth finding ways to save on materials like this so you can leave yourself some wiggle room in your rehab budget.
Overstock and Clearance Flooring and Countertops
Flooring and countertops make up a big part of any rehab budget, so I always like to look through my suppliers’ overstock and clearance options for these. There’s nothing wrong with buying last year’s granite or quartz countertops or laminate flooring. Plus, like appliances, quality countertops and flooring materials work in just about every style of house. If you can find a deal on some bulk flooring or countertop material, it’s almost always worth it. You won’t just use it on your current flip—you’ll find uses for it in future properties, and you’ll save a lot of money.
When you shop for materials, some things are going to be unique to the house that you are currently rehabbing. Other things are going to be almost universal. For those universal materials, buy as much as you can in bulk and store them for later use. If you do this, you’ll increase your profit margins over all of your flip houses, and you’ll save time and energy, too. The more streamlined you can make the process the better, and the more materials you have on hand at the beginning of any rehab project, the faster the process will go. These tips should make it easier to flip your houses under budget and on time.