Updated 19 days ago on . Most recent reply
Flooring configurations in a tenanted property
Good evening BP!
I'm currently under offer for my first acquisition in the States, in a warm-temperate, moist climate which I am inexperienced with. It's a single unit property that can be configured to a fourplex with proper permitting, or a duplex if the local planning office dislikes that scale of upgrade. This will be the first pure-BRRRR i've done with zero house hacking or foreseeable future sale, and I would like some advice regarding its' flooring configuration.
Where I am from, island-style carpet is the preferred approach flooring whereby bedrooms are carpeted, and all other areas are LVP with the exception of bathrooms, water closets, and laundries which are tiled. I have a suspicion that this may be the case here as well, but prior to confirming an approach in this 4-or-2 unit subdivision I would love your opinions regarding maintenance and/or tenant attraction given the climate. I have little inclination towards providing carpet given that I will not be present to ensure it is well maintained, though I believe that a setting of pure LVP with wet-area tile may be seen by tenants as 'cheap' which is in my opinion undesirable for obtaining and retracting high-quality tenants. Over the course of the project, the decision to include a mid-range carpet would increase the budget by a few thousand dollars and in essence I'm wondering whether the increased installation/maintenance costs and the shortened life cycle has sufficient impact on tenant attraction and retention to justify versus LVL flooring throughout.
Warm regards and thank you for any input!
Most Popular Reply
@Aaron Wadsworth No offense here, but you need to talk more about the numbers and less about carpet.
Moving walls and transforming a single family into a duplex or quad is a massive undertaking. We have some experience and contactor support and will most likely NEVER attempt that strategy. It's good idea in some markets, boosts cash-flow, but it limits your ability to sell in the future. The end buyer for a quad plex is another investor. I'd choose the duplex option because first time home buyer (house-hackers) love them. A duplex renovation should also be cheaper saving you money. Buying the property right, renovating it as a SF with open concept design, and leaving some cash in the deal is probably the best plan, but I'm not in your market and don't know any of the numbers.
If this is your first purchase in the states keep it simple and lower your expectation of a renovation. Follow the BRRRR strategy, renovate it nicely, but don't go over board. That's a common mistake for beginners. Swing some hammers if you have time to save on labor!