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Author Topic: Appliance Shopping - MFU's  (Read 5732 times)

Offline Ashon

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Appliance Shopping - MFU's
« on: November 02, 2011, 04:28:21 pm »
Currently taking a look at a putting a couple of Multi-Families under contract, and wondering, what do the rest of you do about Appliances? 

Some of the units I am looking at are being flipped by investors, and have no appliances.  Do you use discount clubs like DirectBuy, Costco?  Or do you shop around at Sears/Home Depot/etc?

-Troy Fisher
Follow my REI progress on my blog:
http://www.mypathtorealestatewealth.com

Offline motivatedceo

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Re: Appliance Shopping - MFU's
« Reply #1 on: November 02, 2011, 06:24:34 pm »
I buy all my appliances, used, from Craigslist and from some local appliance companies that specialize in used appliances.

If you are going new, I would definitely shop around for the best deal. In Dallas you can get some remarkable deals at Sears and Conns, and sometimes Fry's Electronics even.

Currently taking a look at a putting a couple of Multi-Families under contract, and wondering, what do the rest of you do about Appliances? 

Some of the units I am looking at are being flipped by investors, and have no appliances.  Do you use discount clubs like DirectBuy, Costco?  Or do you shop around at Sears/Home Depot/etc?



Offline justin0419

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Re: Appliance Shopping - MFU's
« Reply #2 on: November 02, 2011, 09:16:11 pm »
I was using the used appliance store here in town until they screwed me on a deal.  Now I buy all my stuff new from Lowe's.  You can get a basic stove for about $330 and fridge for $400.  You can get discounts if you check on a holiday weekend.  I still check craigslist for used appliances, but if I don't have time to wait I just get them from Lowe's.
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Offline andydallas

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Re: Appliance Shopping - MFU's
« Reply #3 on: November 03, 2011, 04:13:05 am »
as soon as I feel confident about a deal, long before it closes, I start looking at lowes and home depot for returns, scratch and dent appliances, etc.

I closed on a house last friday, but had already purchased a GE Monogram, stainless steel, convection oven/microwave unit for the house,,someone bought it from home depot then it didn't fit,,,at home depot they told me they had sold it 3 times, but it never fit (I don't care if its a perfect fit, we will just adjust the cabinet)

It retails for $2400, I bought it for $571,,,new, full warranty,,,,

I look at the scratch and dent items every time I go to lowes or home depot

Offline jmd_forest

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Re: Appliance Shopping - MFU's
« Reply #4 on: November 03, 2011, 08:52:17 am »
Aahon

"One word ..... craigslist" (My apologies to "The Graduate").

I use craigslist to buy high end appliances at incredible bargain prices. I've outfitted an entire kitchen (range, fridge, dishwasher, built in microwave/vent) and laundry (washer, dryer) in stainless appliances less than 3 years old for less than $700. I've bought essentially new mid line appliances from people renovating a kitchen in a newly purchased property for less than $100 each. I've purchased complete HVAC systems (heater/coil/compressor) less than 3 years old for $500.

However, that being said, any time you purchase used stuff from unknow parties you assume a risk. I've made it part of my business to be able to fix most appliances so when I get stuck, or have a golden opportunity (3 year old GE Profile stainless fridge with a bad circulation fan for $125) I have reasonable confidence I can work through it.

Even if it turned out I had to throw an appliance away because it was not economical to fix, I try to pay little enough that it really doesn't hurt.

Offline HPM

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Re: Appliance Shopping - MFU's
« Reply #5 on: November 03, 2011, 09:52:50 am »
Craigslist:
I try for older Maytag Machines, they go for real cheap when someone wants a new crappier better looking one.
If I need something quick or specific or delivered I have a guy ( found on craigslist by buying an appliance) that takes care of me.
I found a guy (now a tennant). That fixes appliances for cheap $35 service call + parts. $65 minimum to fix something.

Offline davewindsor

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Re: Appliance Shopping - MFU's
« Reply #6 on: November 03, 2011, 10:01:01 am »
I was using the used appliance store here in town until they screwed me on a deal.  Now I buy all my stuff new from Lowe's. 


X2

I bought a used fridge for $200.  A few months later, it had a pinhole leak in one of the freon tubes.  Spent $400 in on a few service calls trying to get it freon refilled and fix.  He said he couldn't find it because the problem tubes were inside the side walls and the walls are welded shut.  Junked it.  Never bought used again.  In fact, every year new fridges get more and more power efficient.  10 year old fridge may use $200 of power.  These days they use like $40 a year in power.  Plus, what do you tell the tenant complaining that they lost $200 in food when it breaks down again two weeks later.

Same with the new stoves.  If that digital timer is broken on a used stove, it costs more to fix than it's worth.
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Offline Ashon

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Re: Appliance Shopping - MFU's
« Reply #7 on: November 04, 2011, 11:03:44 pm »
Thanks guys.  The feedback makes a lot of sense from all prospectives. 

Craigslist got the most votes, but I think that something newer with less potential problems makes a little more sense, and if a tenant ruins it, well, zip there goes the security deposit.

I definitely like the idea of the dings section at Lowes, and will look into that.  Andydallas, have you developed a relationship with the manager, so that they call you when a new item comes back?

But since none of the appliances are in any of the units I was definitely looking at new, so that I could have uniformity in the units.  I think that trying to fill the units it would be best to be able to show that they are all uniform instead of having the property manager explain why unit A has a bottom freezer while Unit C has two side doors.
-Troy Fisher
Follow my REI progress on my blog:
http://www.mypathtorealestatewealth.com

 




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