Real Estate Investing Basics

The Best Black Friday Bargains For Budget-Savvy Real Estate Investors

Expertise: Real Estate Investing Basics, Real Estate News & Commentary, Personal Development, Flipping Houses, Landlording & Rental Properties, Personal Finance
103 Articles Written
black-friday

Black Friday is tomorrow, just in case you have been living in a cave. Stores used to open at 5:00 a.m. Then 4:00 a.m. Now some open Thanksgiving night. You may not need anything for yourself, but there are a lot of opportunities to save money while helping your investing business.

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Rentals

Do you give your tenants a holiday gift? How about birthday gifts? Stock up on small appliances like slow cookers, toaster ovens, coffee pots and blenders. Wal-Mart has small appliances starting at $9.72 and Target‘s prices start at $17. At Kohl’s, you can find them as low as $8.

Grab a few DVDs, throw in some gourmet popcorn and hot chocolate, and make a gift basket to say thanks for being a great tenant. Add a comfy blanket (also on super sale at Target and Wal-Mart), and make it a cozy home gift. Small things like this go a long way when it comes time to renew the lease with a rent increase.

Are you having a hard time renting out a unit during these slower months? Maybe a TV would sweeten the deal? TVs are on sale this whole weekend.

What’s the state of your appliances? Both Home Depot and Lowe’s have appliances on sale. If you’re thinking about replacement, now’s the time. Both stores allow you to purchase now and schedule delivery up to 90 days out.

In Episode 147 of the BiggerPockets Podcast, Johnny Youssef shared a tip for getting his units rented out, even at higher-than average rents. He spends $100-$200 extra on appliances to get the stainless steel finish. His typical tenant is a young couple, and once the stainless steel catches the eye of the woman, she’s sold.

With one vacancy spread over 30 properties in 7 years, I would take his advice.

Related: Investors: Start Considering Holiday Appreciate Gifts NOW

Vacation Rentals

When was the last time you replaced any of the frequently-used items in your vacation rental? I’m talking pillows, blankets, towels, etc. Can’t remember? Then head out for some Black Friday bargain hunting at Target or Wal-Mart and start stocking up. Target has pillows on sale starting at $3 and you can find them at Wal-Mart for $4.88.

Games and toys are on sale, too. Offering plenty of kid-friendly items will keep kids occupied so adults can talk. Vacation rentals never seem to have enough things to keep kids busy. Happy renters are repeat renters.

How is your supply of DVDs? Wal-Mart has DVDs starting at $1.96. Target has them starting at $4. In fact, most stores have DVDs on sale, so keep an eye out for them no matter where you are shopping.

Related: How to Furnish Vacation Rentals for Maximum Rentability

Rehabs

Hey rehabbers, I didn’t forget about you. It’s difficult to stay on budget — you never know what you’re going to find when you open up a wall. Save money where you can, so when you come across an unexpected repair, your profits aren’t blown.

Both Lowe’s and Home Depot have appliances on sale. I mentioned it above in the rental section, but it bears repeating. You can order your appliances now, and schedule them for delivery up to 90 days out. Save money now without having to find a place to store your new appliances. Win-win.

Need to stock up on tools? Lowe’s has a TON on sale. From air compressors to power tools to hand tools, it’s the perfect time to add to your tool chest. You can never have too many tools. I bought my air compressor at a grocery store 12 years ago during a Black Friday super sale. It’s still powering my pneumatic tools — and I use it a LOT. At a $99 purchase price, it has cost me $8.25 a year to own it.

But wait, there’s more! Finishing touches are also on sale. Vanities, faucets, tile and carpet.

Related: Planning Which Materials to Use For Your Rehab

Frugality Wins Every Time

I didn’t write this to advertise for the stores mentioned above. Goodness knows they will be busy enough without my help. But I’m a frugal gal, and I’m guessing you started investing in real estate to make money. Saving money here and there helps you make money down the road.

Customer service is dead, so small touches with your long-term tenants really make a big impression. Extras in short-term vacation rentals can get you repeat visits. Rehab budgets are routinely busted — I know mine is. There’s always a repair that turns out to be bigger than you expected. Trim costs where you can without totally cheaping out.

So come back tomorrow and let me know what fabulous deals you scored on your shopping trip!

Happy Thanksgiving!

Mindy Jensen has been buying and selling homes for more than 20 years. She buys houses, moves in, makes them beautiful, sells them, and starts the process all over again. She is a licensed real est...
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    Jason Insalaco from Toluca Lake , California
    Replied about 5 years ago
    @mindyjensen A very clever and time-sensitive post, Mindy. Thank you for sharing this Thanksgiving.
    Jessie Niu from Columbus, Ohio
    Replied about 5 years ago
    Thanks for the reminder! As a newbie investor, I didn’t even think about this! Going to Lowe’s this weekend! 🙂
    Dawn Brenengen Real Estate Broker from Raleigh, NC
    Replied about 5 years ago
    I just bought a gorgeous stainless steel appliance package for one of my rental owners who is doing a cosmetic rehab. $2300 for everything!
    Brandon Stevens Investor from Lexington, Kentucky
    Replied about 5 years ago
    Great article to remind people how this day can be a business benefit, not just a personal one. If your looking for a flooring product, Home Depot has a few select colors of their allure vinyl plank flooring for .99/sqft we are going to stock up on. A very heavy duty material, that literally anyone can install. We’ve begun putting it in every single rental and have had nothing but good results.
    Christian Bors Real Estate Agent from Mechanicsburg, PA
    Replied about 5 years ago
    Great article! I was hoping someone at BP would write something about black Friday. However, if I had to be a negative Nancy, I wish the article was geared toward specific items experienced investors tend to load up on during the sale. For example, do you guys buy extra flooring or faucets knowing maybe in six months stuff will be repaired? Is it worth buying new appliances for your next potential deal? Anyways, still a very good article.
    Timothy F.
    Replied about 5 years ago
    Another solid article, Mindy. “and once the stainless steel catches the eye of the woman, she’s sold” is so true. Happens to me everytime my girlfriend and I move. Shiny upgrades and she wants to do whatever we can to get into a place.
    Bren Miller
    Replied about 4 years ago
    Great article. Always enjoy reading your posts.