Appliances for Rental Property

[Edward Apostol]

Excited to be a new member here on BiggerPockets and also about the fact that I'm making my first post!

I recently closed on a single-family rental investment in Peoria, AZ.  The previous owner took their refrigerator, washer, and dryer and I'd like to replace these items before I rent out the home.

My question is, would you suggest getting new (but the cheapest) appliances.  I'm looking at $299 each for the washer/dryer, and about $800 for a refrigerator plus $100 for parts, delivery, and install from Home Depot.  I was considering possibly buying used appliances but not sure if it's a good idea or not.  The home is in a nice, quiet, gated community and I'm looking to get about $1300/month in rent.  Could you let me know what you suggest or what worked best for you?

[Kenneth Garrett]

@Edward Apostol

Sounds like its  a pretty nice area when you state it is in a gated community.  I tend to do both.  I buy new appliances for stove and refrigerator.  I have been buying refurbished washer and dryers.  It seems to work.  I would not go to Craigslist and buy them even though I understand the deal you could get. 

I have a different strategy, I buy properties that need rehab and generally buy SS appliances. This way, I refi the property to get my money out so I do not have any money stuck in so I am always concerned on ARV. The additional cost for SS is not that much of a difference. It is well worth it. This is not your typical strategy but it works for me.

Good Luck.