Are single family investment properties worth it?

[Bianca Rodrigues]

Hi BP community!

What are your thoughts on purchasing a single family home, renovating it, living in it for a little over a year and then renting it to a long term tenant?

I’ve heard mixed responses from different people either pro long term renting a single family home or others that don’t see the value in it (if someone could afford the rent then they could afford to purchase the home)

What are your thoughts? Do people really rent homes or tend to go for apartments? 

Thank you!

[Allan Smith]

I'm a bit baffled that anyone would think that buying a single family home and renting it wouldn't work. I have dozens of them. Of course people want to live in them. 

it certainly helps that living in multifamily or apartments is kind of an awful experience. Having your own house is so much better .