How do I declutter my workshop?

TOOL TIPS: 6 Ways to Declutter Your Workshop TOOL TIPS: 6 Ways to Declutter Your Workshop. Spring has finally sprung and with it will come a slew of home improvement and DIY projects. ... Take Inventory. ... Categorize Everything. ... Create Storage Solutions High and Low. ... If You Build It… ... Make Your Accessories Accessible. ... Keep It Clean.

disstontools.com - TOOL TIPS: 6 Ways to Declutter Your Workshop - Disston Tools

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TOOL TIPS: 6 Ways to Declutter Your Workshop

Spring has finally sprung and with it will come a slew of home improvement and DIY projects. But before you get started, you might want to consider doing some spring cleaning around your workshop. Below are six tips for decluttering your space.

Take Inventory

How you organize your tools is largely related to how much you have. The first thing you should do before you even begin organizing your space is to take inventory of everything. Lay out your tools, bits, parts, and other accessories. This will give you an idea of what you are working with and you may even find tools you no longer need or are using – and can therefore be sold in a garage sale or donated to organizations like Habitat for Humanity.

Categorize Everything

Once you see what you are working with, start creating categories for your tools. This can be by type of tool (hand tools, power tools, cutting tool, etc.), seasonal usage, or how frequent you use them. There doesn’t have to be any rhyme or reason, as long as it makes sense to you. Having these categories and using them to determine where you will store everything will ensure you are able to find things when you need them.

Create Storage Solutions High and Low

Chances are if you have a lot of tools, you also have the space to use them. One of the most common ways to store power tools is in bins or containers below a workbench or a tabletop. Buying containers that can seal might be a good idea, because they’ll protect your power tools from water or any other hazard that could potentially damage them. For the same reason, it’s also a good idea to store them off of the ground. Depending on how high the ceiling in your workspace is, you might also consider installing hooks to hang tools from – just make sure the hooks are strong enough to support the weight of whatever you’re hanging on them.

If You Build It…

Maybe you want to turn your decluttering project into a craft project too? Consider finding old cupboards and drawers from second-hand shops (or even from junkyards) to repurpose as storage cabinets. You could also try building a storage cabinet or simply a shelf from scratch. This is relatively inexpensive and may be a better option as you get to customize your storage to your needs. Waferboard is cheap and works great for this type of project.

Make Your Accessories Accessible

Sometimes it’s the little things that are the hardest to store – namely the various tool bits, accessories, hardware and fasteners you may have. Investing in a good multi-drawer storage cabinet will be extremely helpful in keeping your separate bits and pieces coordinated and easy to find. Don’t forget to label the drawers for even easier access.

Keep It Clean

Perhaps the most important tip to declutter your workshop is to just simply keep it clean. Now that you have storage space for your tools, use it and put your tools away after you’re done using them. Be sure to wipe surfaces of debris (including wood or metal shavings, which could cause injuries) and give the floor a good sweep regularly. You’ll be surprised how a little spick and span goes a long way in keeping your workshop clean and clutter free.

Sources include LifeHacker.com

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What is the 70 rule in house flipping?

The 70% rule helps home flippers determine the maximum price they should pay for an investment property. Basically, they should spend no more than 70% of the home's after-repair value minus the costs of renovating the property.

rocketmortgage.com - What Is The 70% Rule In House Flipping? - Rocket Mortgage

The standard process for flipping a house involves buying a home or distressed property at a low purchase price, fixing it up and selling it for a higher amount. The goal for house flippers is to buy low and then sell high in order to boost their profit. The 70% rule can help flippers when they’re scouring real estate listings for potential investment opportunities. Basically, the rule says real estate investors should pay no more than 70% of a property’s after-repair value (ARV) minus the cost of the repairs necessary to renovate the home. The ARV of a property is the amount a home could sell for after flippers renovate it. When buying a home to flip, investors need to estimate how much they believe the property could sell for after it’s been renovated. They can then multiply that amount by 70% and subtract it from the estimated cost of renovating the property. The resulting figure is the highest price that flippers should consider paying for that property. The 70% rule is just a general rule of thumb, however. Before buying any home, you’ll want to study market conditions, work with real estate professionals to get a more accurate resale estimate, and meet with contractors to determine how much repairs will cost and which renovations are needed. If you’re getting a mortgage to finance the investment property, you’ll also want to consider the loan amount and term when evaluating your overall expenses and the ARV of the property. Make sure to apply for mortgage approval so you can understand how much property you can afford before you go house hunting. Securing mortgage approval can also help you prepare to pay back the mortgage once the property is ready for resale, because you’ll know how much you owe your lender.