Is this a good flooring price for rental rehab??

Question

Lowe's is a running a deal that ends tomorrow.

Lowes flooring event

The prices seem really good.So my rentals on my apartment need new flooring to get rent ready.

I know I have to pay attention to the total cost.Example flooring is .68 a square foot but they want 2.00 a sq ft to install.

I was thinking if I got a Lowe's card I could save 10% to 20% on top of the sale price.I would have them install if rates were reasonable.

Thanks

Loc R. · Answer

Joel,

They sell them because they need cash.  For gift cards they got them as a gift but would rather have the cash.  For store credit it's a similar story:  they returned something but HD wouldn't give them the cash.

To verify all you have to do is meet up with them at the store and have a cashier verify that the card has the balance they claim.  Just be sure that the PIN is not scratched off.

Here's the ad I run weekly in my local CL:

http://losangeles.craigslist.org/sgv/wan/2513524195.html

Loc R. · Answer

Joel,

$2.00 a sq ft for install is pricey, IMO.  $1 is about what I'd pay.

0.68 isn't bad.  I'm sure Home Depot has a similar product.  In either case, you can save a TON of money by buying discounted HD or Lowe's (HD is easier to find) gift cards/store credit off Craigslist (I normally pay 70% of face).  In addition, you can buy 10% coupons for $1 off eBay (emailed to you immediately).

In addition, don't fall for the "limited time" offer of a "flooring event".  I'm sure the prices aren't that great relative to everyday prices.  These companies are typical corporate America:  there's a sale for any and every reason.

J Scott · Answer

3/4" Oak, 3.5" Wide, Site-Finished with 2-3 Coats of Poly, we pay between $4.50-5.25 installed.

Greg B. · Answer

I just checked on my local CL.  There are several people on there buying gift cards, I learned something new today.  Thanks.

Loc, how do you not got shot or robbed when they know that you are carrying a known amount of cash to the store at a specific time?  Seems it would be easy for a crackhead to make an appointment with you and jack you when you get there.  How are you screening this for your safety?

James Martin · Answer

If it is a b grade material about $1.09 to $1.59 for 3/8 inch thick 3.5 inch wide. If its A grade about $1.99 sqft.

Jim Stardust · Answer

What are you guys paying for higher end flooring options, say hardwood, for mid to higher type of flips?

James Martin · Answer

Steps are considered custom, you will turn carpet longways to do steps, about 9ft will do 15steps. If the steps do not have spindles look to spend about $75 to install the stairs. I pay $2 a yard for install of carpet including tac strips if needed, anything under $2.50 is ok. Also if you are doing VCT labor should be about 55cent sqft. I would again use VCT instead of tile to help cut cost.

Joel Owens · Answer

I will have to look into this some more.

How do you account for the stairs in estimating carpet?? About 16 steps goes up to the second floor of each unit.

You walk in and dining room and kitchen is there.Probably would tile that.Then living room behind kitchen and then upstairs 2 master bedrooms with each having a full bath.Would carpet those and tile the small baths.

Does a Home Depot or Lowe's person come out to measure for you??

I sound like such a newbie but I am on the transaction end doing sales in commercial and the landlord and contractor part I am newer at.On the commercial land development projects I would assemble the parcels but didn't mess with the construction or the budget side much.

Always more to learn.I appreciate the Dalton connection for savings J Scott.I am wondering if I sign up for Home Depot or Lowe's and save 10 to 20% on what I buy plus they install reasonably and I do Loc's suggestion of buying gift cards for less than face value if I can get for 50 to 60 cents on the dollar for rehab.

J Scott · Answer

In the Atlanta area, the install for carpet or vinyl flooring shouldn't be more than $.60/SF in my experience...

We pay $4.50/SY (or about $.50/SF).  Anywhere from $4-6/SY is pretty typical...

James Martin · Answer

I would not buy laminate for your units. The install should not be over $1.15 sqft. I would use a commercial grade carpet and VCT tile. You can buy these products at a great price and the install is cheap, but product is built for heavy traffic. If you do decide to use laminate I recommend quickstep 700 series 8mm.

Is this a good flooring price for rental rehab??

Most Popular Reply