What do you guys think of 1BR/1 Bath rentals?
Recently I found a deal near me for a 1BR/ 1 Bath asking $14,900. (Real estate is cheap where I'm from). It is clean and could probably use a little paint and some flooring. I could probably rent for $400 a month plus utilities.
What do you guys think? Bad idea? Thanks in advance.
Keep in mind that 1 bd/ 1 baths aren't that palatable on the re-sale end unless you price it for another investor. As for it being a bad idea or good idea...well, I'd say that it depends on your long term strategy.
1. Do you see yourself building a buy/hold portfolio or do you also see yourself flipping?
2. Are there better options to park your purchase funds?
In my portfolio, I have a studio and a small 2/1 that I'll never let go. They're easy to manage and easy to access.
Didn't mean to throw more questions at you. What's your gut telling you regarding the deal?
Thanks for the input Victor. I agree that it probably would be difficult to resell. My main strategy is buy and hold.
I look to invest mostly in rentals that are in the 30k-50k range and try to get good cashflow from them.
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