How to Maximizing Profit with Homes Beside Each Other?

How to Maximizing Profit with Homes Beside Each Other?

Merrickville, Ontario · Member since 2016 · 2 posts · 0 votes

I own two single family homes right next to each other in a small town outside of Ottawa, Canada.  One home is 4 bed 2 bath - the other is 3 bed 2 bath.  They each sit on about an acre of land in a small family subdivision.  Having the two properties beside each other is there any creative ideas as to what I could do to maximize rental income?  Should I consider converting both into duplexes or add granny suites?  Are there advantages to having them together as they are?

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  • Levi T.Pro Member
    Rental Property Investor · Tucson AZ / Nice FR / Washington DC · Member since 2016 · 1k+ posts · 1k+ votes
    8y

    The two best ways I’ve found to fatten the bottom line is via fees or reduced turnover or repair cost.

    Pet rent, lawn care fees, and things that breakdown due to tenant usage are my go to items.

    Number of bedrooms, extra features are only a selling point. In most cases they all rent for about the same price point in the end.

  • Polo VazquezPro Member
    Real Estate Agent · McAllen, TX · Member since 2017 · 382 posts · 281 votes
    8y
    if you have enough land you might be able to add a trailer home.
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