About triplexes

9 Replies

Depends on your market, depends on the set up of the building.

Depends on your renter, are they single or family? or Roommates

Are they working professionals? 

The single and working are usually looking at 2 beds.

The older are looking for 1 bed

Family with kids want 3 plus a yard

personally i like a 3bd 2 bath layout for any type of rental prop.  Why?  because families will rent it and they tend to be stable and stay a long time.  sadly, 3bd/2bath is hard to find

Originally posted by @Jennifer Lee :

Depends on your market, depends on the set up of the building.

Depends on your renter, are they single or family? or Roommates

Are they working professionals? 

The single and working are usually looking at 2 beds.

The older are looking for 1 bed

Family with kids want 3 plus a yard

 Hi Jennifer,

This property is close to a great elementary school and a major regional hospital. So, presumably, working professionals or families could be the potential renters. Thanks!

Originally posted by @Mike R. :

personally i like a 3bd 2 bath layout for any type of rental prop.  Why?  because families will rent it and they tend to be stable and stay a long time.  sadly, 3bd/2bath is hard to find

 Hey Mike,

I agree with you.  3/2's are more difficult to find around my area too. Thanks for the input!

Hi ISI OBADAN My favorite place is the one that provides a great return. We have one bedroom units to a four bedroom house. More bathrooms are nice for tenants but are more work in potential plumbing problems for investors.

Hi Isi,

It sounds like the 3/2's might be the way to go since you are close to a school and there aren't many out there.  Now the next thing to figure out is what the rents are like on either one so you can get an idea of how much more the 3/2 units are worth to you than the 2/1.5 units might be.  

Kelly

Its ALL about the numbers.

I may like something but if it doesnt fit my game plan or doest calculate to my desired return I dont purchase it. 3/2 will cost more - does the income compensate for it? Do you want to stabilize the property and use the new CAP rate to re-sell?

So, that said, what is your long and short term goal? Cash cow vs appreciation is the easiest way to put it- and what return do you want to achieve.

Answer those questions and the property will follow-