update to: offer of flooring from overseas, no money up front

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Well I wish it didn't get archived so I wouldn't have to create a new thread  for this small update
https://www.fatwallet.com/forums/finance/1472296 

but I finally met and sat down with the guy. Basically his family's factory makes engineered hardwood flooring only (i got a couple samples), no real hardwood floors. Wholesales for $3/sqft. The only importer/distributer he has in the US is in CA and he thinks the retail price is $9/sqft but since he's not the retailer, he doesn't know if it includes floor.

So my reaction is that i pay $3/sqft retail for real prefinished hardwood (not including labor) so i can't see where the market (at least in MI where I have rentals and have seen many houses) is for "high end" engineered hardwood that wholesales at $3/sqft

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Millstead Red Oak Engineered Hardwood Flooring
Home Depot sells it for $2.79/sq ft.

You said in last thread:
Since this is actual hardwood and not engineered , I think the chances of environmental problems should be very low. So what is the play here? How am I supposed to sell containers of flooring? I can't use them in my rentals since all the houses in this area have existing hardwood that just needs refinishing.
So the specs changed and you're considering going ahead? why?

$9 a square foot? Is it gold plated? $1.79 locally AT RETAIL

ThomasPaine said:   Millstead Red Oak Engineered Hardwood Flooring
Home Depot sells it for $2.79/sq ft.

You said in last thread:
Since this is actual hardwood and not engineered , I think the chances of environmental problems should be very low. So what is the play here? How am I supposed to sell containers of flooring? I can't use them in my rentals since all the houses in this area have existing hardwood that just needs refinishing.
So the specs changed and you're considering going ahead? why?
no, I'm not going ahead . the price doesn't make any sense

ThomasPaine said:   Millstead Red Oak Engineered Hardwood Flooring 
Home Depot sells it for $2.79/sq ft.

You said in last thread:
Since this is actual hardwood and not engineered , I think the chances of environmental problems should be very low. So what is the play here? How am I supposed to sell containers of flooring? I can't use them in my rentals since all the houses in this area have existing hardwood that just needs refinishing.
So the specs changed and you're considering going ahead? why?

  
That stuff is low grade and only 3/8 inch thick.  Plus it's red oak and prefinished.  Puke.  It's literally the vinyl siding of the flooring world - functional for the uneducated but looks like crap for those who want a decent product.  With a little searching, you can find real, solid 3/4 inch exotic hardwood for around $2.50 to $2.60 /ft.  I'm talking Brazilian cherry, tigerwood, etc.  Sanding and finishing in-place gives you a much better look and is cheap.  I'll say what I said in the prior thread:
wilesmt said: It's not actually that hard to buy shipping containers of lumber/flooring. It also isn't that difficult to turn lumber into flooring, so I would think margins on anything without a brand name are very, very, very small.

You really don't want to be in the flooring business, it's insanely competitive ever step along the way, from manufacturing to installation..  We are living in the golden age for hardwood from developing markets for things like flooring and decks.  Shipping is dirt cheap right now.  Companies in these countries are willing to sell their souls to make a buck and don't mind causing incredible damage to their forest.  Workers will break their backs for dollars a day.  And I don't give a crap, you should see the amount of lumber I have stored because of it.

wilesmt said:   ThomasPaine said:   Millstead Red Oak Engineered Hardwood Flooring 
Home Depot sells it for $2.79/sq ft.

You said in last thread:
Since this is actual hardwood and not engineered , I think the chances of environmental problems should be very low. So what is the play here? How am I supposed to sell containers of flooring? I can't use them in my rentals since all the houses in this area have existing hardwood that just needs refinishing.
So the specs changed and you're considering going ahead? why?

  
That stuff is low grade and only 3/8 inch thick.  Plus it's red oak and prefinished.  Puke.  It's literally the vinyl siding of the flooring world - functional for the uneducated but looks like crap for those who want a decent product.  With a little searching, you can find real, solid 3/4 inch exotic hardwood for around $2.50 to $2.60 /ft.  I'm talking Brazilian cherry, tigerwood, etc.  Sanding and finishing in-place gives you a much better look and is cheap.  I'll say what I said in the prior thread:
wilesmt said: It's not actually that hard to buy shipping containers of lumber/flooring. It also isn't that difficult to turn lumber into flooring, so I would think margins on anything without a brand name are very, very, very small.

You really don't want to be in the flooring business, it's insanely competitive ever step along the way, from manufacturing to installation..  We are living in the golden age for hardwood from developing markets for things like flooring and decks.  Shipping is dirt cheap right now.  Companies in these countries are willing to sell their souls to make a buck and don't mind causing incredible damage to their forest.  Workers will break their backs for dollars a day.  And I don't give a crap, you should see the amount of lumber I have stored because of it.
hmm I guess I'll stick with rentals.

though imo having had both done, I find prefinished to look better than sanded and stain

rufflesinc said:   though imo having had both done, I find prefinished to look better than sanded and stain
agreed. it's also typically a harder finish that wears better.

sanding and finishing in factory > sanding and finishing on site.

$3/sq ft is not much of a deal for wholesale.. Lumber Liquidators has many engineered hardwoods from $3.50-$6 retail pricing and I would imagine their buying power would be much better than yours. Maybe if you sell this out of the back of your van, like you stole the flooring and need to sell $10 flooring $5 like the guys use to sell GIANT SPEAKERS 20 years ago..

letsspendlotsofmoney said:   $3/sq ft is not much of a deal for wholesale.. Lumber Liquidators has many engineered hardwoods from $3.50-$6 retail pricing o..
Who would buy engineered harwood at that price over real hardwood?

rufflesinc said:   
letsspendlotsofmoney said:   $3/sq ft is not much of a deal for wholesale.. Lumber Liquidators has many engineered hardwoods from $3.50-$6 retail pricing o..
Who would buy engineered harwood at that price over real hardwood?

  If your laying it over a concrete like a basement floor, they recommend engineered, it tends to be more stable than a solid 3/4" hard wood floor. 

letsspendlotsofmoney said:   
rufflesinc said:   
letsspendlotsofmoney said:   $3/sq ft is not much of a deal for wholesale.. Lumber Liquidators has many engineered hardwoods from $3.50-$6 retail pricing o..
Who would buy engineered harwood at that price over real hardwood?

  If your laying it over a concrete like a basement floor, they recommend engineered, it tends to be more stable than a solid 3/4" hard wood floor. 

yup.

or really, any slab. much better to float IME.



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