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Rental House Flipping Tricks to Save Investors Time & Money

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We have flipped 4-5 rental homes in the last 6-8 weeks, and in that number have become more efficient, more skilled, faster, and highly calculated using everything. This wasn’t the case before, but special care is required to duplicate a process over and over in a short amount of time.

In our market, especially where we rent, own, manage and sell turnkey properties, we need to obtain a rental license through the city. After that, the property should be inspected every few years. Over the past month or so, I have performed 3-4 of these tests. About properties that have just been flipped and properties that have been flipped in the past.

Quite a few small things have emerged in the old property we turned over. It’s not necessarily a big problem, but it’s a small one. A little annoying that we could fix first and didn’t have to deal with it later (and more importantly, we didn’t have to pay).

The details of the rental housing flip are as follows.

interior

First, use the same body paint color and trim paint color in all homes. This eliminates the need for contractors to guess what’s going on or wonder which color to choose. It also passes through and replaces almost / all isolation valves with sanitary fixtures, flushes the line and allows the plumber to run the main line to the city connection.

Related: Reasons for killing three deals I passed a fascinating fix & flip property last week

The bedrooms and living spaces maintain the hardwood floors that are very popular here and make them beautiful. Personally, I love the look of hardwoods. They look beautiful, rich and elegant, and I think tenants love to have a beautiful home for friends and family to enter. I also love the hardwood floors that hold up. They wear well. And in the worst-case scenario, you can put in someone on the floor to clean or polish a part of the floor, if needed. We use carpet only in bedrooms and hallways, only if we have no other choice.

For the kitchen, if the cabinets are in good condition, clean and paint them and add new counters, sinks and faucets. You need to make sure that you have a GFCI outlet in your kitchen and one in your garage. And the bathroom. If possible, use hardwood or the same vinyl flooring for the kitchen floor. Again, all homes use the same floor. If you look at the pictures, you can see that it is our home, with or without an address.

From a power and electrical perspective, make sure everything is working properly and install all new plugs and switches. There are no ceiling fans in these rentals. Usually every room has a small dome light. It’s safe, unbreakable, and looks pretty.

We paint everything new. Ceilings, walls, trims, doors. Everything is clean and boring, which is highly desirable for tenants who are increasingly looking for a better place to live.

We also repair HVAC and, depending on the condition of the house, clean the vents.

When city inspectors come to our house, they explain to us how they wanted everyone to do their job like us. It also means that our tests are done very quickly and there may be some small things that need to be fixed.

exterior

On the exterior, make sure everything is primed, caulked and painted. Gutters are cleaned, sealed, painted, silicone treated or replaced. You’ve probably started replacing windows that you can hold, but it’s a lot of work. Vinyl windows are easy to install and you can buy an entire home for $ 1,500- $ 2,000. However, if the windows are in good shape, clean and paint the windows and make sure all the old style window storms are installed and working properly.

The painting is thorough. It’s easy to get lazy with this procedure, but make sure everything is scraped, primed and painted. It is worth it for the life of the painting work. I want to do it now rather than deal with it later.

We replace the roof (and have done three in the last few weeks), but we don’t always rent it. If it is leak-free, in good condition, and lasts for a while, leave it alone. It’s a call to decide whether you want to wait for the cost or handle everything in advance. Each is individually supported.

Replace the front door, choose a color for the exterior, and usually add a small amount of landscaping or mulch to the front of the house to make the curb more attractive and keep dirt and dirt from leaving the base.

Related: 4 renovation skills that every flipper should master

whole

We have found that it is much cheaper to replace anything the tenant is touching immediately, such as counters, stoves, faucets, shower manifolds, etc. Replace now for later silence through the tenant. We spend a little more money in advance, but not only does it reduce the time it takes to rent a house (dozens of people don’t have a rental home!), But it also benefits rental inspectors. I have. Ecstatic with our investors (and my wife) we can make great profits and there are few phones to solve home problems.

What do you do with your rent to work aggressively, and why? Is there anything you are waiting for without doing it in advance?

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