I have some equity built up in my small 2 bedroom 1 bath condo that I am looking to sell and hopefully buy two single family homes or a multi-family home.
Does anyone have any experience with small standalone homes?
Ideally, I would be looking at 3 bedroom 2 bath homes, but in the Portland, OR, market with my budget I would only be able to buy a home in an area I am not looking to invest. There are, however, several options for 2 bedroom 1 bath homes with a large yard.
My plan would be to live in one home for a year, put in a little sweat equity, and then rent it out as I moved to a larger home. I am worried about resale value as well as the number of renters who would be looking for a 2 bedroom 1 bathroom standalone home.
Does anyone have any experience in this area? Thanks so much!
most of my rentals are 2/1's and they rent fine to young couples without kids . My rent multiples are the same or better than comparable 3/2's considering PP and ARV. In a market with inventory the lower desirability may affect the price, in Portland not so much.
@Matt Kitto , I see 2bed 1 bath houses renting great in the Portland area. They aren't quite up where a 3/2 would be, but 2/1 seem to attract young couples or small families. I think they make great investment properties and you won't have any issues finding tenants for them
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