An integral part of your property investing team
Just like the other members of your property investment team, your painting contractor is the one you’ll want to stick with over and over again. The more you utilize one home painter, the more discount you should accrue for each succeeding project that you employ his services. In addition, painting contractors tend to be very linear in their cost approach to estimating a project. That is, after a few projects, you should become quite adept at estimating within ten to fifteen percent of what your local painter will charge you, based on the size of the building, and the general condition you’re buying it in.
Unlike with plumbers or electricians, or even carpenters, estimating your paint contractors cost is much more simplified – and constant from project to project. After a while, I knew just by looking at a potential property acquisition what my painting costs would be for painting services with my steadily reliable painting company. By using the same local painter again and again, not only was I benefitting from a discounted price for repeat business, but I was becoming expert at estimating this particular renovation cost myself when I searched for other investment properties to acquire.
Owing allegiance to you
One of the most important facets of finding a good panting contractor, is to work with someone that can give you his priority when on the job. Many painting companies have several crews out on multiple projects every day. I like to find a painting service that only does one job at a time, and the owner/head painter is on the job with his workers every day. If a painting service is so large that you never have the same crew for each of your projects, you can never develop a rapport with them. And, when it comes time for you to ask your painting contractor for suggestions that will save you money on a project, you never know if you can trust their advice if the crew is constantly changing. Stick with one local painter and never vary. You’ll be developing a long-term relationship, and your painting contractor will become yet another valued and integral part of your entire investment property team.
How does your painting contractor stack up on project one?
Like with other trades, your first project will be the most important one with your choice of a local painter. You’ll be measuring them to see how well they work with the other trades people, which will be critical. Many tines a carpenter says he’ll be ready for the painters to come in by a certain date, and he’s not. Then the painters take another job, and can’t come back to you in a timely manner, essentially delaying your entire renovation schedule. But if you have a painter who works well with other trades people, they can ask the right questions to determine the best fit for their schedule, based on how the project is proceeding. In essence, a good local painter is very aware that time is money – and looks for every way to help keep you on your schedule – not simply fit you in to his.
Bidding a project out
In deciding upon your choice of painting companies, you’ll want to check out their references – and actually visit local paint jobs they have done. Certainly price is a major component. But don’t let it be the lowest bidder wins. Make sure you obtain at least three price quotes when selecting a painting contractor. And make absolutely sure they are all written out, and for the exact scope of work as each other. Otherwise, you’ll be comparing apples with oranges. In addition, ask your general contractor or carpenter who they’ve had good experiences working with in the past. If they’ve already worked with someone they trust and work easily with, chances are their recommendation will be a good fit for you as well. You can also check with family friends and your real estate agent for referrals of local painters. Regardless of the list you decide to winnow down, make sure you obtain those written estimates first, so you can best compare their respective price quotes.
photos courtesy of danielpaintingservice.com, painting-contractors.regionaldirectory.us, indigo-construction.net, pinonpainting.com, paintingtampabay.com