Posted by David Krulac on February 21, 2001 at 06:51:16:
for me at least. You don’t get as much as a 3 bedroom, but you should not be paying as much when you buy.
In low to middle house 5 bedrooms, in my experience won’t get you any more rent. At the high end you could possible get more. It helps if you can call the 5th bedroom something else. Its a den, library, study, family room, office, etc.
2 bedrooms, are they successful - Posted by frederick Waller
Posted by frederick Waller on February 20, 2001 at 07:34:37:
I have a two bedroom available for $41,900. The seller owns it straight out. He only needs about $10,000 down and is willing to carry the rest of the agreed upon price. I hear people say that two bedrooms are not good properties. However, is there ever a time where the numbers make enough sense to justify purchasing a two bedroom ??
Let me know
Also, is a 5 bedroom better than a 3 bedroom for a rental property ??
Pros of 5 bedroom
More space
Cons, must heat more space
What do you great real estate minds think out there ???
Fred
2 bedrooms are great… - Posted by David Krulac
Posted by David Krulac on February 20, 2001 at 18:35:55:
you can rent them all day. Conventional wisdom is stay with 3 bedrooms, but you can rent 2 bedrooms easily, like any investment the number need to work.
I don’t like 5 bedrooms, too many people, too much utility use, even if you are only paying sewer and trash, becaue they are leinable, often times the sewer is based on water consumption which is a lot more for 5 bedrooms. Also the wera and tear on a house, the carpet, the vinyl flooring paint and walls is heavier with more people. I want less people not more. Rents the same the wear and tear is more with more people.
I have gone so far as advertise a 4 or 5 bedroom house as a 3 bedroom, just to keep the body count down!
Re: 2 bedrooms, are they successful - Posted by Mark (SDCA)
Posted by Mark (SDCA) on February 20, 2001 at 13:38:16:
You will get a better response on NewsGroup I but here you go…
I think 2BD RENT very well. They compete quite well against 2BD apts. (Who wouldn’t prefer having no neighbors!!) I think they sell fairly poorly because most people who have the financial resources to buy want and need more than just 2bd.
5BD is too much house. Unless it is an executive type house (ie VERY high end) but that is quite a niche market. I would advise sticking to the bread and butter 3 and 4Bd, 2BA if you are looking for long terms rentals.
Mark
Need the numbers - Posted by John J
Posted by John J on February 20, 2001 at 08:35:41:
Let us know what the numbers are Fred, including the vacancy rates for 2 and 5 bedroom units in your area and we will tell you if the numbers make sense. I have some 3 and 4 bedroom units and I can rent those out all day long to Section 8 tenants.
Re: 2 bedrooms are great… - Posted by St. Joeseph
Posted by St. Joeseph on February 20, 2001 at 22:02:28:
2 bedrooms are quite easy to rent. The reason most investors say stay away from them is because they can be difficult to sell when the time comes. I agree with the 5 bedroom concept, but for such a big house wouldn’t it rent for more which would offset the extra wear and tear?