Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kyle Hansen

Kyle Hansen has started 1 posts and replied 2 times.

Yes, garden units in condos. I'm trying to understand what the rent impact would be from a garden unit vs a 1st floor unit. And if anyone has had "bad experiences" with trying to rent out garden units.

I'm a first time investor in Chicago and I've noticed that garden apartments are MUCH cheaper than an apartment just one floor about it. This obviously isn't a surprise - people in cities prefer to be higher - but the factor of difference was surprising, often $20K-$30K between floors.  The low price of these garden units is very tempting and also opens up where I can purchase quite a bit (these are the only properties near the city that meet the 1% rule), so my question is: how much will garden units affect my rent potential and vacancy assumptions?

Does anyone have experience with garden units that could provide anecdotal advice? Is the "crime factor" that everyone seems to point to with garden units a reality, or just a stigma? 

The areas I'm looking are very nice and very populated areas near downtown, so even with the potential lower demand of garden units, I don't feel like my vacancy estimate should be impacted, but potentially the rental amounts. 

Thanks!

Kyle