Vinyl Plank Flooring Installation Cost

[Mike K.]

I found a property that might work for the BRRRR strategy. Older home UP/Down Duplex. Exterior siding has been redone. There is a newer metal roof. Interior has original hardwoods floors at the end of their life. Trying to estimate total cost to install new vinyl plank flooring throughout. Looks like floor cost is around $3/sq. foot. My research online indicates $2-$2.50/sq. foot for installation of flooring. Does this match up with your experience. Thanks for the input.

[Zac Mckenzie]

Materials + Installation should run you around 4-6$ / sf. so your on the right track. 

[Marc Winter]

The general numbers are in the ballpark.  Remember, prices are very geocentric--they can vary greatly based on location, especially for labor.

[Mike K.]

Quote from @Zac Mckenzie:

Materials + Installation should run you around 4-6$ / sf. so your on the right track. 

Thanks for your feedback. The home is up in Marion. Inspected the house and the floors are visibly out of level due to settlement in the middle of the home. No click-lock flooring in this house without the extra expense of floor leveling. Looks like carpet would be the best option. 

Highest sales on older duplex homes in Marion over the past 12 months are in the $130k-$140k range and they want $118k for the house. Needs new bathrooms and some updates to Kitchens. Probably $30k-$40k in total renovation cost. Even at a $100k price the numbers don't work to get my money out on a refi at $140k valuation. I would need to offer $70k to make the deal work.

Do you do fix and flip in Columbus?

[Zac Mckenzie]

Yes we do or own internally as well as Contract out for others. those numbers don't seem to make much sense to me either.

[Mike K.]

Quote from @Zac Mckenzie:

Yes we do or own internally as well as Contract out for others. those numbers don't seem to make much sense to me either.

 Zac, I live in Genoa Township, not to far from you.  Are doing any new construction spec home projects?  I'm looking at different options for RE investment and it seems like new construction might be able to compete with existing home prices because of the high price levels.

[Zac Mckenzie]

Hey Mike we also live in Genoa township. We have a few custom home projects in the works for clients. The architect and I have been thinking the exact same thing, with all the people looking to build/ live in this area we could sell just about anything under 500k instantly. We should grab some coffee and discuss.

[Mike K.]

Looks like land prices in the area have dramatically increased in anticipation of the new Intel plant. I think all the appreciation for the upcoming years is already baked into the current prices.  Might be an irrational market with anticipation exceeding reality. Hard to tell for sure.

The population of the area is likely to decline when they open the plant. Their are more jobs involved in the construction of the plant than will be working there when it is operating. By a factor of 2-1.

[Matthew Paul]

Hardwood floors are pretty durable .  You could always sand and stain them , a couple coats of gloss poly and you would be surprised .  Remember , once you put in furniture , and some rugs you dont see that much floor .   

I have a rental that the hardwood was in rough shape , stains , gouges , etc . We sanded them , then beat on them with a chain , hammer and took a propane torch to areas , put on a clear coat and they turned out great , with a distressed look . 

[Bruce Woodruff]

@Matthew Paul beat me to it! Absolutely get a bid to sand and refinish. If it's solid wood, it can be sanded numerous times.....a recent rehab where the floor was thrashed got 3 heavy re-sands, ended up being one of the most beautiful floors anyone had ever seen.

Also, I would look at jacking up the center floor a bit while you're at it. Once again, it's not that hard, I think non-contractors are intimidated. It's actually really easy.

Your thoughts, Matt?

[Matthew Paul]

Quote from @Bruce Woodruff:

@Matthew Paul beat me to it! Absolutely get a bid to sand and refinish. If it's solid wood, it can be sanded numerous times.....a recent rehab where the floor was thrashed got 3 heavy re-sands, ended up being one of the most beautiful floors anyone had ever seen.

Also, I would look at jacking up the center floor a bit while you're at it. Once again, it's not that hard, I think non-contractors are intimidated. It's actually really easy.

Your thoughts, Matt?

 Hardwood always adds character to a home .  You can sand it , you can stain it , finishes in all colors . You can go gloss , you can go matte . Rustic or modern . And it takes a beating . 

Onr of my rentals origanally had a floor register for the heat with hardwood floors , I made an inlay pattern out of red oak and white oak . the rest of the floor was white oak . it became the center piece of the room . 

On Rentals I go gloss poly , it seals all the cracks . If an animal makes a mess it stays on top . 

On a turnover I scuff it with a buffing sander and give it another coat of poly and it looks like new . 

[Bruce Woodruff]

Quote from @Matthew Paul:

Quote from @Bruce Woodruff:

@Matthew Paul beat me to it! Absolutely get a bid to sand and refinish. If it's solid wood, it can be sanded numerous times.....a recent rehab where the floor was thrashed got 3 heavy re-sands, ended up being one of the most beautiful floors anyone had ever seen.

Also, I would look at jacking up the center floor a bit while you're at it. Once again, it's not that hard, I think non-contractors are intimidated. It's actually really easy.

Your thoughts, Matt?

 Hardwood always adds character to a home .  You can sand it , you can stain it , finishes in all colors . You can go gloss , you can go matte . Rustic or modern . And it takes a beating . 

Onr of my rentals origanally had a floor register for the heat with hardwood floors , I made an inlay pattern out of red oak and white oak . the rest of the floor was white oak . it became the center piece of the room . 

On Rentals I go gloss poly , it seals all the cracks . If an animal makes a mess it stays on top . 

On a turnover I scuff it with a buffing sander and give it another coat of poly and it looks like new . 

I use this stuff - https://www.homedepot.com/p/Varathane-1-gal-Clear-Satin-350-...

 What about jacking up that floor?

[Matthew Paul]

Quote from @Bruce Woodruff:

Quote from @Matthew Paul:

Quote from @Bruce Woodruff:

@Matthew Paul beat me to it! Absolutely get a bid to sand and refinish. If it's solid wood, it can be sanded numerous times.....a recent rehab where the floor was thrashed got 3 heavy re-sands, ended up being one of the most beautiful floors anyone had ever seen.

Also, I would look at jacking up the center floor a bit while you're at it. Once again, it's not that hard, I think non-contractors are intimidated. It's actually really easy.

Your thoughts, Matt?

 Hardwood always adds character to a home .  You can sand it , you can stain it , finishes in all colors . You can go gloss , you can go matte . Rustic or modern . And it takes a beating . 

Onr of my rentals origanally had a floor register for the heat with hardwood floors , I made an inlay pattern out of red oak and white oak . the rest of the floor was white oak . it became the center piece of the room . 

On Rentals I go gloss poly , it seals all the cracks . If an animal makes a mess it stays on top . 

On a turnover I scuff it with a buffing sander and give it another coat of poly and it looks like new . 

I use this stuff - https://www.homedepot.com/p/Varathane-1-gal-Clear-Satin-350-...

 What about jacking up that floor?

 It cant hurt to try jacking it up .  Depending on the house , age and where and why the floor isnt level , sometimes its best to leave it alone .

[Mike K.]

Jacking up a 100 year old house with significant settlement is an exercise in futility, in my opinion. Especially in a low priced market where you can't recoup the cost. I'm moving on to the next opportunity....

[Allan Brooks]

Quote from @Mike K.:

Quote from @Zac Mckenzie:

Materials + Installation should run you around 4-6$ / sf. so your on the right track. 

Thanks for your feedback. The home is up in Marion. Inspected the house and the floors are visibly out of level due to settlement in the middle of the home. No click-lock flooring in this house without the extra expense of floor leveling. Looks like carpet would be the best option. 

Highest sales on older duplex homes in Marion over the past 12 months are in the $130k-$140k range and they want $118k for the house. Needs new bathrooms and some updates to Kitchens. Probably $30k-$40k in total renovation cost. Even at a $100k price the numbers don't work to get my money out on a refi at $140k valuation. I would need to offer $70k to make the deal work.

Do you do fix and flip in Columbus?

 40k-60k sometimes it just aint a deal