Big home - is it worth it?

[Ray Campos]

Hey all,

I found a couple of homes in the down town area, both homes are 6rms 3.5 bath, both not listed, at least not yet.  I know the homes will gain equity and that would be great for my bottom line, but I'm really looking for an income generator. Here are basics, one home is very new for that area so no work needed unless I decide to split it into a duplex, new enough to get some high end tenants I would think.  The other is fairly old but kept well not as appealing.  I have a couple of questions.

- Would you rent out by room, try to split home into duplex, or a combo of the two?

- What would rent by room go for, or a rent by splitting them?

Based on your input I can decide at what price point to offer to make it make financial sense.  Thoughts?

I was thinking the best thing to do would be to have someone who is also willing to invest live there and rent out/manage the rooms.