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Updated over 3 years ago,
Student Housing - condo unit
I am new to investing and have just one rental property -a condo unit- near a college campus. This complex is mainly leased by international students. I'm looking to do some upgrades which won't increase rent but will help to keep it leased. The carpet is in terrible shape and the kitchen countertops (white laminate) need to be replaced as they are damaged from the tenants placing hot items directly on the counter.
Since I've already had some cap ex in this one year of owning (replaced the HVAC, outside step repair, as well as some other items), I"m looking to do the rehab in stages and would appreciate advice on what would give me the best "bang" for my buck - kitchen upgrades or only replacing the damaged countertops right now and then replacing the carpet? If carpet, is LVP the best option?
Thanks!