Just curious what will b the strategy to buy appliances for rental use such as ovens, dishwashers, washer/dryers, etc.
A) look for used appliance store to buy used but certified ones in good to excellent cond?
B) look at private deals thru craigslist, offerup?
C) look for packaged deals from chain retail shops like HD, Lowe's?
D) look for open box, refurbished items online from ebay, amazon?
Looking forward to hear peoples thoughts
I would go for options A, D and sometimes B but NEVER C. You're welcome.
Everyone has their own philosophy, but I usually go for C. I figure my time is worth more than finding a used appliance, making an appointment to see it, transporting it to the property, hoping it works on day one, hoping it works on day two...
For the cost of appliances vs. my time, I would rather buy new appliances and have several years with less potential hassle than trying to save $200 on the front end, but potentially getting a call 6 months later from a frantic tenant who's losing their frozen meat because their used refrigerator crapped out. Once you've swapped out one refrigerator (especially from a unit not at ground level), you won't wish to have to do it again any time soon. Usually you can get the chain stores to do this for free with a purchase, and they have some nice sales if you watch for them. (I got a couple of gas ranges on a Black Friday deal last year.)
New appliances also help with marketability at showings: more modern appearance, more energy efficient. Things I ALWAYS mention when walking the unit with prospective renters.
I think I would have to agree with Wesley.
I just went through this process and as a relatively new rehabber didn't feel comfortable looking at used appliances. I also didn't want to spend the time searching through craigslist or ebay to find quality appliances.
I went to Lowe's and put together a list of 15 appliances, then they sent the list off to their bid room(?), I think that's what they called it, and they actually cut about $2,000 off their listed prices.
We are supposed to receive all the appliances in this morning, so fingers crossed that goes well. If not, I'll let you know.
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