Updated almost 11 years ago on . Most recent reply
One Bed One Bath Property Strategies
I have a small property I am looking at getting under contract that is a 1 bed 1 bath at only around 600sqft. It is currently being used as a rental property. Would it make more sense to try and market this to a potential rehabber or someone who is looking to get more rental properties?
I know smaller 1 bed 1 bath units are harder to sell and market but I am curious if anyone else finds value in flipping these types of properties or if this should mainly be marketed towards a rental investor.
Of course all of this depends on making sure all of the numbers work out, but I am more interested in the big picture.
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I have a similar house in a good neighborhood in Minneapolis. One bedrooms are tough. Resale market is limited but may improve with the trendy, tiny house craze. It can be tough to sell to investors also as less banks are interested in financing one bedroom rentals because they are hard to sell if they have to foreclose. Does it have a full unfinished basement? Is it a property with potential to add a bedroom and bathroom in the basement? Are ceiling heights adequate? If so, there is value to market it that way. We do some one bed/one bath to two bed/two bath upgrades and those tend to be very profitable for flips or sale to investors here in the Twin Cities market.