Midwest homes w/o basements

[Megan Greathouse]

Hi, fellow Midwest investors! I'm a buy-and-hold investor in St. Louis, and have recently come across several properties with no basements. Personally, I think that's weird for a Midwest property and my first inclination is to move on, but I wonder if perhaps it's workable for renters? Do any of you invest in properties without basements... and why or why not?

Thanks for your thoughts!

[Jaymie S.]

I have 7 SFH all on slabs. I will not buy any properties in central Illinois with basements. Too many in this area have water problems. We all know water equals mold and foundation issues. I believe my properties bring equivalent rents as those with basements because I provide well maintained homes for my tenants.