All Forum Posts by: Patsy Waldron

I have a Lowe's personal credit card and I am pretty sure I can get 5% off anytime I buy anything there if I use the card. And then sometimes they run special financing (like 0% interest if you spend more than $299). I've used it several times, as I, too, like to save if I can! 

I recently learned that, because of my membership in a REIA, I could get 2% off ON TOP OF the 5% off if I opened a line of credit (LOC) with Lowe's. I was all excited.... until I realized that the LOC is the kind of thing only serious contractors/rehabbers would have (large volume, pay off quickly), so I was bummed.

@Ryan Murdock

Yeah, I can see that this color would show every muddy footprint and speck of dust... but it's still a beautiful color!

I don't have a business account at Lowe's, but thanks for the tip- I'll keep this in mind if/when I graduate to doing enough rehabs to need a business account and buying enough to qualify for this discount! 20% off sounds pretty sweet!!

Wow, that cleaned up really well!!!! I am not fond of paneling but I can see why you would keep it. I love, love, love your kitchen floors. What did you use?

@Katelyn Brennan

Not sure where you have been looking or plan to invest (West, East, South?), that will determine to some degree which agent you go with.

I have worked with @Account Closed to look at stuff on the east side- he is a great agent, very responsive and full of great advice.

@Brad Fausett

Scroll all the way up. There is a green "button" (for lack of a better term) on the right that says "Start a discussion." This will start a new thread in this forum.

Thank you for your answer, Scott. It's very helpful!

Good to know! Thanks for sharing. I wonder if they operate all over the country.

There are many possible ways of measuring what's reasonable or fair. If they are "just" giving you money (literally only writing the check and then going about their lives) and I was doing ALL the work, from identifying and purchasing properties and doing the work of rehabbing, selling or renting out (whatever it is), I personally would go for 30%- 50%. There is no hard and fast rule about the percentage equity and profits the person providing "sweat equity" takes. It really depends on who your investors are and how they feel about your proposed stake in the deal. 

Say you approach them and explain that they will put up the money and you will do all the work, and you all will divide the equity and profits in any deal 50-50, and they go, "Wow, that is awesome! Can't wait to get started!"- great, you just negotiated yourself a 50% stake in the partnership. If you present the scenario and they balk- "Ummm... So I take all the financial risk and you get half of the proceeds?", you may need to educate them on what exactly you will be doing, or reduce your stake to get them to agree. 

So the exact split of spoils in the partnership will depend on how good of negotiators you and your partners are, and what is mutually acceptable. Once everyone agrees on what each partner's share is, that share dictates what everyone gets out of the deal, as Tom explained above.

Good luck!

OK, I see. If your floor is not level then LVT is a better choice than tile, as leveling a floor is definitely more work than laying vinyl plank.

If you have several rooms to do, the most cost-effective solution is definitely to use the same flooring in all the rooms, so you are not left with a few pieces in each different kind. I definitely think a darker shade will work well. Check out Allure at Home Depot. It is very popular as it is well-priced, sturdy and well-made. They should have Black Friday sales, too, so stock up!

If you want to keep costs down, I second @David O's suggestion to just replace the one broken tile. Seems like a pretty common tile design that shouldn't be hard to match. I, too, am a fan of tile in kitchen and bathroom because it is durable and very forgiving.

If you are dead set on replacing this floor..... then vinyl plank flooring is a good choice as it is VERY tenant resistant. Choose a darker color that will contrast against the light color of the cabinets and will mask some stains/mud. The click lock type is super easy to install once you get the hang of it.