Rent to own floor covering? - Posted by LeonNC

Posted by Ron (MD) on March 06, 2001 at 17:35:52:


I rehab homes in this price range and sell them to FHA buyers.

My buyers have no idea what quality carpet is in my houses – they don’t know if it’s FHA minimum, or better or worse. I pay $11-$12 per yard for pad and carpet (installed) that is a definite upgrade over FHA minimum. I could spend $2-$3 less, but my conscience won’t let me. I’ve been in houses six months after new FHA minimum was installed and it looks terrible (even though used only by the proverbial single, little old lady). My typical job is about 125 yards. If I pay and extra $2.50 per yard, my cost is $300 higher.

I usually make about $20,000 per house. I’d rather give a buyer decent carpet than make $20,300.

A tenant/buyer might feel ripped off when the carpet looks bad in a few months and get soured on the whole deal…I can’t answer that because I don’t sell that way.

As for my $11-$12/yard price? Ask around – especially among other investors. My carpet co. is a big warehouse-type operation, in an off-the-beaten-path location. I’ve tried a few times to beat their price, but haven’t come close. You may be able to find a similar place.

Finally, I use Home Depot’s 12" vinyl tiles in my kitchens and bathrooms. If one gets damaged, they are easy to replace because Home Depot keeps essentially the same stock all the time. Sheet vinyl is much more difficult to repair.

Two suggestions: These tiles are self-sticking. I insist that the contractor use adhesive anyway…it holds them down much better. I also require a new luan subfloor in almost every case, so that the base is smooth and solid. Secondly, these tiles start at about $.50 each and go up to $1.79. You won’t be surprised that I stay away from the low end. They are very thin and don’t hold up well…also, they tend to show any imperfections in the subfloor. The ones I use are $1.29 (a bit more expensive than you probably need, but my buyers love the pattern).

Ron Guy

Rent to own floor covering? - Posted by LeonNC

Posted by LeonNC on March 06, 2001 at 13:47:46:

I’ve got a house I’m getting estimates for on the floor covering. I’ve heard people say $1.00 per sqft is about right. I’m getting estimates of about $1.75 per sqft.

This is a decent house in a decent area with a FMV of about 66k. Should I be putting a minimum grade FHA carpet in there or the cheapest I can find? What should I use to cover the kitchen and bathrooms? I want someone in there who INTENDS to purchase but I also want something durable because as you all know not everyone will purchase. I’ve been looking at vinyl sheets but I’m not sure that’s the best decision for durability or cost.

Need a little help. Thanks


Re: Rent to own floor covering? - Posted by AnnNC

Posted by AnnNC on March 06, 2001 at 18:28:27:

I have to agree with Ron, because unintended accidents happen: it’s common to rip vynil in a pantry when putting in
a W/D, or in a kitchen,moving an appliance in or out, or dropping a hot oven rack.