Best Material For BRRRR (Long-term rental)
Hi all! Just bought a house that I'm renovating as part of a BRRRR, and I'm trying to decide what the best material is for flooring, countertops, and lighting. Considering that I want the house to appraise for as high as it can while having durable material inside for tenants, what are the best bang-for-buck options I should use? Below are the options I'm considering.
Flooring Options: Luxury Vinyl for both kitchen and bathrooms; carpet for bedrooms and living room
Countertop Options Considering: Granite, Thinscape, Quartz. A home depot sales associate recommended thinscape, but I haven't heard of it so I'm not sure how good it would be for a BRRRR.
Lighting: Honestly not sure what to do about this. Still researching, so any advice is appreciated here!
Deal Details:
-Purchased for $375k in Peachtree Corners, Georgia
-Renovation for $20k
-Target ARV: $530k
-Target Rent: $3500
-Estimated PITI (assuming interest rate of 7.125%): $3286
-Cash flow: $214 (basically all going to reserves)