SMARTERLANDLORDING

ADVICE FROM EXPERIENCE

DIY

Tips for DIY Painting

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If you are new to real estate investing, I’m guessing you will be doing some work yourself. That’s great! This has truly been the biggest learning curve of my life. We have been rehabbing our triplex for 5 months now, and I can say with certainty that I’ve found the task that I would like to hire out, as soon as possible—painting.

Painting is the worst.

It is repetitive on your wrist and wearing on your back. You have to tape and lay down drop clothes. You need to designate an outfit for ruin. The worst part is how long it takes! This is especially true if the room requires multiple coats. One room we painted required 5 coats! Remember those custom colors?…

If you’re like me and you can’t quite afford to hire the job out yet, head this advice. I learned the hard way.

  • Buy good paint brushes. Cheap brushes will shed. Better brushes are easier to clean.
  • Buy one of those 14-in-1 paint tools. I’m not sure what all 14 functions are for but I use it a heck-of-a lot.
  • Clean you brush after every use! 
  • Clean your paint rollers after every use. They are reusable. Seriously… I didn’t know this.
  • Buy drop clothes, preferably the cloth kind. Do not use table clothes—despite how free they may be. The paint will leak through.
  • Pick neutral paint colors and stick with it. This will save money and headache in the long run.
  • Take a picture of your paint color, brand and sheen. Keep it on your smart phone until you’ve memorized it! This way, you know you’re buying the exact same paint each time.
  • Buy paint in 5-gallon buckets instead of gallon cans. You’re going to go through more than you think. If you’re using the same paint colors, you know it will be used at some point. It’s cheaper in the long run, and you can use the empty buckets for so many things.
  • Buy the cheap paint. It doesn’t matter how expensive it is, you are going to need at least 2 coats.
  • Don’t leave the door open if it’s raining outside. It will cause paint blisters on your wall.
  • It’s easier to scrape paint from finished floors than sand them from unfinished floors.
  • Do not use painter’s tape on finished hardwood. It will take the top layer of polyurethane right off!

I’m sure this doesn’t cover all of the painting mishaps that I’m doomed to encounter. If you have other bits of advice, please enlighten us all.

Real Estate Advice for Rookies

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This past week made me reconsider if I should be blogging about real estate.

Aside from books, blogs, and conversations with investors, I don’t know much about what I’m doing.

I’m great with numbers. I can analyze, budget and prioritize like a pro. Despite my strengths, I have underestimated the time commitment every single time. If you are getting into real estate because you think that it’s easy, please turn back now.

This post is for the rookies.

I set a goal to have the vacant unit rented by November 1. So, I started showing it before it was even ready. I walked prospective tenants through the repairs. One woman bought into my vision and signed a lease. There was no turning back.

We stayed up past midnight all week to make sure that we met our deadline. We bought and installed appliances, hung blinds, built cabinet doors and changed out receptacles. We painted the entire apartment—two coats.

If you had given that list to me 2 weeks ago, I would have said, “no biggie,” with confidence. I had no idea how time consuming it would be. I can’t imagine what it would have been like if I had to do it ALL myself. Luckily, I have an awesome partner and helpful friends.

Truth be told, I’ve received ample advice to add a cushion to cost estimates. I just never knew to do the same thing when estimating time commitments for do-it-yourself repairs. Maybe I’m a too confident for my own good…

If I were to relate this new, hard-learned knowledge, I would recommend that  estimated time commitments be multiplied by three for any first-time endeavor. That multiplier of three should not include the time you spend reading how-to articles and watching you-tube tutorials either.

Don’t feel overwhelmed before you start though. There is a learning curve. I’m confident that I could install a sink and faucet in half the time it took me before. I can vinyl tile a kitchen floor like nobody’s business. And, you should see my putty knife skills. It’s serious.

 

Demolitions: Don’t Pay Money; Make Money

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Every successful business person knows to solicit multiple bids from contractors. (Need help finding good contractors?) You do this to find the market price of services and to feel out the knowledge and competency of your potential help.

I’m no fool. I did the same thing with my triplex once I had a comprehensive repair list. The various estimates for my carport demolition surprised me though. They ranged from $1,000-2,500.

 

PSHH!

(if you don’t know what that means, please consultant urbandictionary)

 

We decided to complete the carport demolition ourselves, and it was one of the best decisions we’ve made so far. Granted, the demolition was spread out over several weeknights, and a contractor could have had the job finished in a day. We were perfectly ok with the delay though. The carport demolition wasn’t preventing us from renting out any units.

The best part: instead of paying a contractor over a thousand dollars, we ended up coming out ahead!

The first thing we did was throw a crowbar party! Four of my macho friends came out and competed to see who could take down the most boards as fast as possible. In retrospect, I could have charged a dollar a sledgehammer hit since they were all so amped to be the first one to take down a support beam.

Don’t believe me? Check this guy out 

After the wood was stacked, I posted an ad on craigslist for reclaimed wood. I offered it for free, and I had quite a few craftsmen come out and take a load off of my hands. This saved me from hauling debris and paying dumping fees.

The roof of the carport was made of corrugated aluminum. I also posted this on craigslist asking for people to make offers on the 26 sheets that I had. One person made an offer of $4 a sheet, if it was trailer-ready when he got there. I responded with a lower offer of $3 a sheet—with the understanding that he would be responsible for disassembling the aluminum. I also threw in an offer for free reclaimed wood, should he be interested.

Within 24 hours of him accepting my offer, the debris was gone and I was $78 richer!

 

Pros:

  • I saved money
  • I made money
  • I helped prevent debris from going into a landfill
  • I helped others find affordable materials for their projects

Cons:

  • It took longer than if I had hired a contractor
  • I had to coordinate many moving parts

 

Would I do it again? I saved money. I made money, and I had fun. You bet I would!