Hello! Looking for a little advice. I am looking at investing in a rental property. The price range is under $85k. Most homes that I am seeing in that price range do not contain a basement. This is different for me because growing up, every home that I have lived in contained a basement. I wanted to know you thoughts about investing in a single family rental property that does not contain a basement. Will this push renters away from leasing the home? Will the value of a home without a basement increase? The resale value makes me a little nervous. I appreciate your thoughts on this!
The value of SFHs is driven by home owners not investors or tenants. If the area does not normally have basements it should not be an issue. If it is the only home in the community without a basement I would avoid buying it.
SFHs normally make for poor rental investments due to low cash flow. When you sell it should be vacant and will be purchased by a potential home owner.
Thanks for the reply. A lot of the homes in this area do not contain a basement so it sounds like it should not be an issue. The homes I'm looking at around 1000 sqft and are in a fairly decent neighborhood. I think there could be a decent amount of cashflow to be made depending on how much I have to invest.
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