If you’re a real estate entrepreneur, buying paint is going to be a permanent part of your life. You always need paint…
It doesn’t matter if you’re buying a rental property or a fix-and-flip, paint is always a must.
The reasons that paint is mandatory when you buy something new is that it ALWAYS makes the house smell and feel fresh and new no matter what it was before. When you have a rental that is filthy, you still have to clean it and do some things to make it nice, but the paint is the magic. It’s automatic – when we smell paint, we think “new”… It’s just the way it works.
Obviously, when you’re flipping a place, you’re buying paint for sure. You’re remodeling everything else, and it would be a sin not to paint it.
I could go into all the details of how to paint the most effecient way for each project, but I’ll leave that for another post. Right now, I’m sure you want to know how to save a ton on paint…and I’m about to tell you 🙂
They are buckets of paint that were ordered for large project for another customer and something went wrong. For some reason or another, they ended up being the wrong color for a commercial job and they are just “dead” at that point. The customer didn’t want them and the paint store has to eat their mistake. Maybe the mixing machine messed up and it didn’t output the exact color scheme it was supposed to.
The bottom line is that this is a huge opportunity for you.
You simply go into your local paint stores and ask if they have any mis-tints. They will sell this stuff for dirt cheap. I once bought 180 5-gallon buckets of paint for $5 dollars a piece. That’s a dollar a gallon. Usually I pay around $20-$30 for 5 gallon buckets, which is still a steal. They will range in price depending on how bad the paint store just wants to get them out.
Sometimes the mis-tints are hideous colors and you don’t want those. Usually something in the tan/lighter brown family is fine. To get the best deal, offer to buy ALL of the one color. That’s when the store will really work with you. Now you have paint for plenty of houses for the price of half of a house. This is how I buy ALL of my wall paint.
As far as ceilings, basements, and wood trim goes, I usually just buy that as I need it, but all of my wall paint is from batches of mis-tints. I’ve saved tens of thousands of dollars using this strategy!