Over the past few years, house flipping has become an extremely popular way for Americans to invest in the property market. Relying on a handyman or contractor to repair every little item in your investment property can become quite time-consuming – not to mention costly as well. As such, there are a few DIY skills you should be willing to learn how to master if you intend to earn a living by flipping properties.
This is something that virtually anyone can learn relatively quickly because very few supplies are needed and little to no actual skill is needed to do an excellent paint job in your investment property.
Once you’ve gathered all the required paint and materials, getting started is as simple as deciding whether to start by painting the edges and corners or painting the larger surfaces first and then finishing off in the corners and edges. Most painters prefer starting with the fiddly sections first, as it seems to make the rest of the project go a lot quicker.
A mistake many people make is to buy the cheapest paint they can find. However, you’ll end up taking far longer to cover an existing color because more coats of paint will be needed. Instead, buy the best quality paint you can afford – it will also last far longer after drying.
Tiling is a skill that can save a house flipper thousands of dollars over the course of a few years and although it may look complicated, it’s actually easier to learn than most people think. In fact, several hardware stores even offer free tiling classes from time to time and a number of videos are available online that will show you how to perform this task to perfection.
With a little patience and a lot of practice, you’ll be able to tile floors, walls, bathrooms and even backsplashes in the homes you’re flipping.
Basic Electrical Work
Chances are that the property you’re flipping will have older, rather unattractive light fixtures and electrical switches, and although some electrical projects do require the services of a qualified tradesperson, replacing fixtures is something that can be done easily in a DIY capacity.
If there are serious electrical faults or rewiring of any part of a property is needed though, you’ll have to hire the services of an electrician. This will ensure that work is completed according to the required industry and safety specifications.
Minor Plumbing Repairs
Many homes on the real estate market will require some forms of plumbing work to be done before being sold. Although replacing pipes and installing a completely new bathroom are jobs that are best left to qualified plumbers, aspects such as leaking sinks or faucets can usually be repaired quite quickly and easily as a DIY project.
Mastering the basics of DIY and home repair will not only allow you to save thousands of dollars when flipping a property; chances are that you’ll save a lot of time as well because you won’t have to wait days for a repair person to attend to the problem.
If you would like to find out more about how to obtain the funds to get started with investing in real estate properties, contact our team today.