Hi All!!! I have been searching for a multi-family unit (easier said than done). I found a contender; it's several multifamily buildings being sold as a package deal. However, there are a lot of 1 bedrooms within the unit. That seems fine to me because I know there is a market for that--young singles, young couples and even possibly single mothers with one child. When I was a young single woman all I looked for was studios or 1-bedrooms. But my husband doesn't like the idea of investing in so many one-bedroom units. I would love to hear about other's experiences with 1-bedrooms vs 2 or more. What is your preference?
I'm going to preface this post by saying I'm not an experienced investor by any means but I would think that 1 bedroom units aren't as desirable as units having multiple bedrooms. Now I not saying that there isn't a market for 1 bedroom places but I just think it is limited. A young professional could still rent out a 2 bedroom unit and turn the 2nd bedroom into a office or get a roommate or something to that affect but a 3 person family couldn't rent a 1 bedroom unit. Also, I would expect 1 bedroom units to have more turnover since it's so specific. Personally, I don't think it should be a deal breaker on the deal but I would just make sure you do your due diligence.
@Christopher Giannino , you made a lot of really good points. I also thought about turnaround rates...etc. We are definitely in the due diligence phase, so, I guess I'll have to see what the say and if it makes sense.