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Updated about 11 years ago,

User Stats

114
Posts
21
Votes
Angie W.
  • Real Estate Investor
  • Columbus, OH
21
Votes |
114
Posts

Do investors buy ready to rent houses?

Angie W.
  • Real Estate Investor
  • Columbus, OH
Posted

I have a SFR in a low to moderate income older neighborhood. We've owned it 3 years and rented it out.

The house has been vacant now for a few months, partially due to cleaning and doing improvements. We originally thought we would rent it out, but have found that we simply haven't had the time or patience to deal with type of applicants (and tenants) we will get. My husband has started a new job that takes all his time and I am just not cut out to be a low income landlord by myself.

So we have decided to sell. I am thinking the house should be marketed to investors, but was looking for opinions on this. The house is ready to rent and has had a new roof, driveway, kitchen and bath in the last 3 years, and we just put new windows in. Basically, it's ready to rent out for someone who has the time to find a tenant. The neighborhood is a small one with tract homes of 2/1 and 3/1 @ 925sf and probably about 40% are rentals. Things seem to rent well here if priced right. This is a 2/1 but one of the nicer houses in the neighborhood.

Do some investors look for finished ready to go homes? If so what would they be looking for (i.e. lower price, etc.)?

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