3 Ways to Save Money on Materials for your Next Flip
When flipping a property, the cost of materials can add up quickly! To overcome this, you have to be smart about what you spend your money on. Don’t worry, the good news is that ZINC is here to help! There are a few ways to mitigate budget risks, cut costs, and stretch your budget when shopping for materials. Once you have a budget in mind it is vital to stick to it to ensure you get the best ROI. In this blog, we will share our money-saving secrets when it comes to acquiring materials for your next flip.
- Create a standardized look- ZINC recommends having one uniform look for all of your flips. This way you can buy paint and other materials in bulk and save money in the long run. This will also help you stick to a quick and efficient exit strategy because your team will know exactly what materials to use for every flip.
- Only change what NEEDS to be changed- Try not to get carried away with unnecessary changes. For example, If you don’t have to replace the cabinets, then don’t. A couple of coats of paint can be almost as good as brand new cabinetry. It can be easy to lose sight of your exit strategy and start adding personal touches to the property. But, it is vital to stick to the original goal: a high ROI.
- Become a PRO member at Home Depot and Lowes- Pro members get special pricing and have a special catalog. For example, if you were to buy smoke alarms at a regular price, they would be around $10-$15. But, if you are a PRO member and buy them out of the Pro catalog, they would only be around $5. This is a great way to save money, especially if you are buying in bulk for multiple flips.
Now that you know how to save on materials for your next flip, the next step is to get your deal funded! Click here to apply now! We lend up to 90% of the purchase price and 100% of the rehab.