Investor · Peachtree Corners, GA · Member since 2014 · 1k+ posts · 1k+ votes
I've learned a few money saving ideas over the years mostly from @J Scott. These include using one paint color for all houses whether flips or rentals, ordering carpet considered "seconds'," buying at the pro desk usually with a $2,500 plus order and for us military members and veterans using my military ID card to get a 10% military discount.
I'm very interested in hearing what you do to save money! Thanks!
Investor · Peachtree Corners, GA · Member since 2012 · 131 posts · 83 votes
12y
Do it right the first time.
This comes from a rental outlook. When you purchase the house and are rehabbing it for rental fix it right. I don't care if it cost you more money now... You'll save in the long run. Use a good exterior paint so you aren't repainting every 3-4 years. Use tile in areas that have water. You can use cheap carpet but use a better pad. If the plumbing fixtures are old.. replace them now. If you are going to buy new appliances buy them in the scratch and dent section... If not you can find great deals on almost band new ones on CL. If the water heater is getting old.. .8 plus years... replace it. Home depot has them for $239. Much cheaper then having it go out and you have to rush a plumber over there. Learn to do small repairs yourself.
You want to prevent your houses from having problems. A lot of small problems add up very qyuickly.. not only in cost but in pissing off your tenant.
This comes from a rental outlook. When you purchase the house and are rehabbing it for rental fix it right. I don't care if it cost you more money now... You'll save in the long run. Use a good exterior paint so you aren't repainting every 3-4 years. Use tile in areas that have water. You can use cheap carpet but use a better pad. If the plumbing fixtures are old.. replace them now. If you are going to buy new appliances buy them in the scratch and dent section... If not you can find great deals on almost band new ones on CL. If the water heater is getting old.. .8 plus years... replace it. Home depot has them for $239. Much cheaper then having it go out and you have to rush a plumber over there. Learn to do small repairs yourself.
You want to prevent your houses from having problems. A lot of small problems add up very qyuickly.. not only in cost but in pissing off your tenant.
I wish I had seen this 3 days ago. I just paid $170 to replace the thermostat on a 8 year old water heater.