At some point, all real estate investors will have to deal with painting. Whether you’re a flipper or a landlord, you will have to paint your places at some time. Even wholesalers can get in on the act to spruce up a property. Or at least negotiate with the seller to have it done.
There’s a good reason for painting a property. Three letters describe that good reason – R. O. I. – Return On Investment.
A nice paint job can really make a difference in a property’s appearance. Many regular people (not investors as much) buy or rent properties on emotion. Detailed analysis is not necessarily in Suzy or Steve Homemaker’s thought process. For maybe $1-2k max for the cost of a painter and materials, you can add up to $10k- $12k to the value of your house.
Having a freshly-painted rental property will also help to loosen a potential tenant’s wallet.
Even with the great return though, smart investors are always trying to save time…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.