I just finished a successful flip and made out really well. One of the reasons I made out so well was I went to a lot of builders auctions. I was getting band new tubs for $1 (no lie I got 4 deep soaker tubs for $1 for all 4), engineered hardwood floors for $0.90 per linear foot, pallets of lights/ceiling fans for $175.00, 1000 linear foot of base moldings for $100.00. The list goes on and on.
That was great for flipping but tonight I am going to look at my first BRRRR and trying to come up with a rehab plan before buying. My question is, would it be worth it to put in higher end stuff because I can get it cheap or should I stick with more durable stuff like vinyl flooring? I assume by putting in high end finshings means I can ask for more rent but the house I am looking at is a MFH with 3 bed, 1 bath per unit (2 units) which likely means kids. I'm not sure it's worth changing out things like flooring even if I get a good deal on it.
Whats every ones thoughts on it?
@Shawn Jetton if you’re going to rent it out, don’t bother with the higher end finishes unless you need it to pull in the market rent (depends on your area). Don’t add higher finishes because of the appraised value. Most appraisers are just going to use gross living area to determine value and don’t put a lot of weight into your finishes.
If you can keep getting your materials at a bargain and they look decent, keep doing that!