Converting Finished Basement into an Asset
Hello Fellow BP Members,
I am a recent transplant from NC to MD. I am wondering how many of you have turned your basements into income producing rentals?
I am an experienced investor and Real Estate agent (Licensed in MD and NC) that specializes in Short Term and Corporate Rentals - Please see this BP post about my first Short Term/Corporate rental development in NC:
https://www.biggerpockets.com/forums/61/topics/385...
I see a HUGE untapped market in the North Baltimore - South Harford County areas - Why arent more people taking advantage of the space that they already have in their basements/houses? Corporate travelers NEED safe housing in our area. They typically look for a room and private bathroom at a minimum.
This is not the same as Short Term Rentals that are being heavily regulated - Corporate travelers typically rent for 60 - 90 days at a time and pay around $800 for a room and $1200+ for a private space (such as a furnished basement with bathroom).