I flip properties and I own apartment complexes. As such, I am always looking for ways to save money. I have been using two simple tricks lately to garner up to 11% discount off my maintenance and rehab costs. I have spent about $45,000 this year on a rehab project and these two tricks saved me about $4,000 in real money. It is unbelievably simple and it was cash right back in my pocket.
First Trick: First sign up for an Ebates account. It is quick and easy to do. Ebates is an online rebate center, and through Ebates, you can receive up to 6% off your online Lowes and Home Depot purchases as well as about 1,000 other retailers. (Home Depot’s rebate currently is 3% while Lowes is 2.5%). I know, it sounds like a gimmick but it really works. Remember, the rebate is for ALL purchases, not just a select item or two. Ebates
The Ebates account doesn’t cost anything, and all you have to do is to remember to first go to the Ebates website so a rebate tracking cookie is created on your computer. If you sign up for the Ebates email, you can receive notifications on rebate offers.
Tip #1: I usually wait to purchase major appliances when I get an email stating that Lowe’s rebate is temporarily raised to 6% for a promotion that they from time to time push.
EBATES: You can click here for the Ebates site: Ebates All discounts earned through Ebates are mailed to you via a check. They have an online verification and tracking tools in your Ebates account, so you can see the tracking cookies and “pending” cash back.
Second Trick: Lowe’s offers a credit card that gives you an automatic, immediate 5% discount for all purchases. I rarely use cash, so using their credit card not only allows me to keep of track my purchases, but I immediately save 5% on all my online and in-store purchases. Lowe’s 5% cash back credit card: Lowes
Tip #2: I order many items online by first going to Ebates and then to Lowes.com. I often choose “store pickup” if I need the item immediataley. I get all the discounts and save time shopping.
Tip #3: Sign up for Lowe’s MyLowes Card so that you can track all your online and in-store purchases. It makes for re-ordering those frequent items so much easier!
Take it from a CPA and a Pro! That’s it! It is just a matter of signing up and ordering your items online. Make the process a part of you maintenance and rehab process and start saving. Your first step? Sign up for Ebates and then the Lowe’s Card.
© 2013 Douglas Rutherford, CPA, CGMA. All Rights Reserved. Douglas Rutherford is a nationally recognized CPA practicing in the real estate industry. He is the founder of Rutherford, CPA & Associates, and the President and CEO of RentalSoftware.com. He is also the developer of the national leading real estate investment analysis software, the Cash Flow Analyzer ® & Flipper’s ® software products. Doug earned his Masters of Taxation degree from Georgia State University, Atlanta, GA.
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