Los Angeles, CA · Member since 2015 · 176 posts · 48 votes
Hey BP - I don't think I've seen a comprehensive list on this forum, so I wanted to outsource this question to the community to see what works best for everyone.
I buy rentals in the Midwest in C+ to B neighborhoods, and I'm always interested in saving money on flooring/painting/etc.
So, what materials do you swear by for lower end rentals? What have you learned about saving costs on CapEx?
Investor · Columbus, GA · Member since 2014 · 2k+ posts · 1k+ votes
9y
I use flooring from Lumber Liquidators. I am considered a contractor because I do a lot of business with them. This gives me a nice discount on flooring, plus I will look for clearance sales. I use tranquility vinyl plank flooring. Go with 4mm or thicker.
I think CAPEX is very overstated throughout this forum. I keep an emergency fund to cover common repairs. I don't withhold $12.37 per month to replace a roof in 20 years on a SFR. You can see when a roof needs replacement and you can plan accordingly a few months ahead of time. Hot water heaters are like $700 and they last for a decade. I try not to overthink it. Once you have 10 or more units, the monthly cash flow should cover most any repair that you will have.
Investor · Columbus, GA · Member since 2014 · 2k+ posts · 1k+ votes
9y
I use flooring from Lumber Liquidators. I am considered a contractor because I do a lot of business with them. This gives me a nice discount on flooring, plus I will look for clearance sales. I use tranquility vinyl plank flooring. Go with 4mm or thicker.
I think CAPEX is very overstated throughout this forum. I keep an emergency fund to cover common repairs. I don't withhold $12.37 per month to replace a roof in 20 years on a SFR. You can see when a roof needs replacement and you can plan accordingly a few months ahead of time. Hot water heaters are like $700 and they last for a decade. I try not to overthink it. Once you have 10 or more units, the monthly cash flow should cover most any repair that you will have.
Software Developer · Vidor, TX · Member since 2015 · 922 posts · 639 votes
9y
We've built 3 houses now and have remodeled our personal kitchen. We have a rep at Sherwin Williams and they can get you deals on paint that you can't get in store. We got some of their quality interior paint for $84/5 gal, kind of like a price matching program.
If you can do concrete slab, staining/sealing is THE cheapest route, period. Stain is ~$40/bottle and sealer is $200/5 gal.
Tile counter tops are really cheap to install.
If you do exterior repair on soffit or fascia, always go back with hardie, less maintenance over time.
Places like surplus warehouse will give you a 3% landlord discount on doors and windows (and they're already dirt cheap).
Capex is important to keep track of but with so many alternative options to pay for the expense, I don't stress too much over it either. Between HELOCs and/or 21 month interest free credit cards, there are many ways to fund, at least, the materials and just pay cash for the labor.
Like said previously, hot water heaters last fooooorever. The one in my first rental is going on 13 years old. I've never drained it or replaced the rod and we had hard water for 9 of those years as well.
Since we build new and they're kept well, I only put aside 1% of the cost to build annually. I eventually get warranties (and they're great imo) and flip flop companies once their rates start increasing.
Los Angeles, CA · Member since 2015 · 176 posts · 48 votes
9y
What color and material do you guys like to paint your interior and exterior with, in order to make stains appear less prominent? And to make it last the longest?
What color carpets do you guys like?
Also, what's the sturdiest type of material a property can be made of (brick, etc), in order to last the longest?