A part of seeking out lead and close on build in equity and good positive cash flow property, I realized that the ability to shop for LOW COST APPLIANCE AND MATERIAL to dress the property is also important. This will help increase profit and reduce cost.
Where do you smart landlord usually shops (note, I use the term shop not buy)?
Here is a few place, but the cost is high .... (pre-owned or secondary hand place is welcome)
3. Home Depot
Please help me build the list above ... for you smart guru shoppers ...
You can try used appliance shops. Not all the stuff is used some slight scratch and dent.
I just picked up 2 stoves, a dishwasher and a refrigerator all for about $400-450 a piece over at Lowes and had next day delivery. So it cost me $1,700 for the 4 appliances. I have gotten coin op washers and dryers off of craig's list before, but to be perfectly honest I think it's much easier just to go with the low end appliances for rental units, since market rent isn't going to change based on appliance quality, lol. We aren't house flippers after all!
I agree! Scratch and Dent places like the sears outlet have also served me well in the past!
This place is amazing
Chan, Eric's tip is gold. If you have a local ReStore, which is affiliated with Habitat for Humanity, check it out. I have gotten GREAT deals; A lot of the materials are donated by the big box stores. I got six refrigerators that came out of a nursing home for$700--for all six in great shape! Bonus is you are helping Habitat for Humanity. Also, ask about their landlord program.
Here in Phoenix we have a Habitat store and a Stardust store. If you are doing a rehab for a flip these places will come out and take older stuff if it is still functional, I just did this for a kitchen on a flip and it cost me 0$ to strip the kitchen and bathrooms and I can deduct the value of the cabinets as a charitable contrabution.
If you need used appliances they resell the stuff they take out of the flipper kitchens.
For new cabinets we have a place calle Builder Material Outlet in Phoenix that has amazing prices and Cabinets, Granite, Doors and Windows.
For appliances we shop a local store that we have built up a relationship with.
Thank you for the good tips.
I am sure we all can use it. Anything that can help us save will bring us a bit further in life.
@Eric Dufault Interesting store ;-)
@Chan K. I go to Depot 12% discount. At Sears & GE I've got commercial accounts.
I've wrestled with enough used appliances and breakdowns over the years so that now I usually buy new.
BUT I've got a great Appliance guy that heads up all the work for a chain of dealers, he moonlights for me when something breaks down. We introduced him at our REIA meeting and he said he got a ton of business from the group but the Landlords are not the most generous bunch. (really?)
@Mike Hurney Hi Mike, how can I get the 12% discount from Home Depot? :)
Chan, there is a Restore in Billerica and one in Nashua (no sales tax)
@Ann Bellamy Thanks, Ann
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