Winchester, OH · Member since 2017 · 8 posts · 1 vote
Hi,
I'm looking to start real estate investing in the next couple months and I was curious if there's anyway that I can go to lowes or home depot and not be charged sales? I didn't know if I had to apply for vendor's license and/or federal ein and go to a lumberyard and give my information to them or what? What is the usual discount for lumber, cabinets, shingles, plumbing, and electrical? Since I', a military retiree, I get a 10% discount at lowes every day. I believe HD honors it as well. I know when I came back from Iraq in 2005, HD gave their employees 20% coupons and I got a hold of at least 20 of them and used them to build my new house. I saved lots of money doing that. Thanks for the help.
Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
9y
@Bryan Rhoads , not be charged sales tax?? Not useless you pretend to a charity and want to go to jail for falsifying documents. The 10% covers your taxes.
Winchester, OH · Member since 2017 · 8 posts · 1 vote
9y
Dan,
Doesn't hurt to ask does it? I didn't know if business owners had to pay sales tax when they bought their materials at HD or Lowes. And no I don't want to go to jail.
Winchester, OH · Member since 2017 · 8 posts · 1 vote
9y
Dan,
Thanks for your service. Military retiree here. I see that you are starting your Master's degree this summer. So am I, don't know what I want to do with it though. Maybe go to work at the VA. And do real estate on the side.
Syndicator and Fund Manager · Victor, NY · Member since 2012 · 760 posts · 345 votes
9y
Bryan Rhoads
You can also get 5% off by using a lowes card.
Not sure how lowes works with commercial accounts as I usually go through Home Depot but HD at the pro desk will take my emailed order list and send it to the "bid room" for a bulk discount. Works for orders over $2500. I'm sure lowes has a similar process.
Grove City, OH · Member since 2016 · 167 posts · 66 votes
9y
you can claim sales tax exempt in ohio but it's not really for things like flipping. It would be more for if you were a floor installer for example. You'd buy the materials for 2$sqft and sell them to the customer for 3$. You wouldn't pay sales tax on the 2 but would charge it to your customer on the 3 and collect sales tax on behalf of the state.
The 3 most common reasons to be exempt are being a nonprofit, reselling the item, or if it's a consumable used during the manufacturing process. The idea is that the end user pays the sales tax.
As for purchases I use a Lowes card for the day to day misc things. And use the HD pro desk anytime I'm spending over $2500 such as at the start of a new house.
Syndicator and Fund Manager · Victor, NY · Member since 2012 · 760 posts · 345 votes
9y
you'll have to try it out and see. Depends on local inventory. When you have a project in mind pick out the items and make a list and submit to prodesk. They simply quote it st that point, no obligation to purchase