All Forum Posts by: Robert Hesselmann

Jake,

Thank you for your opinion.

I hear what you are saying, and get the same feeling from general reading on the subject.

Another of my thoughts are that for younger people, stairs may be easily navigated with heavy laundry baskets. For older couples, or older singles, the difficulty may be enough for them to pass on the home, leaving me with a smaller market.

The same could be said though of families in need of three bedrooms...

My area is fairly easy to rent 2 or 3 bedroom homes. In the end I think my aim is to attract more singles or couples willing to pay just a little more for extra amenities like a laundry, etc, as opposed to families settling for a 3 bedroom simply because of the number of bedrooms, and not for the home itself.

This particular home is in an older neighborhood, and close to, but not in a low income area.

The 3 bedroom renters it attracts are not the same quality as the couples or singles.

Rob

I have a 3 bed 1 bath 1200 sq' SFH with full basement.

Basement is okay as basements go, but isn't pretty or inviting...Washer and dryer are in the basement.

Home is on a septic system.

I'm considering converting the smallest bedroom to a laundry room/folding room/extra clothing storage. W/D would be relocated here.

My reasoning is that while three bedrooms may be more popular, more occupants/strain the septic system, and not having to descend into a basement to do laundry may attract better tenants who really don't need the third bedroom.

I realize three bedrooms typically bring more rent, but with a 3 bed 1 bath having the laundry in the basement, I'm not seeing it attracting the best tenants.

I'm at the top of the rent range for this home/neighborhood ($795 central Illinois) and am faced with trying to attract better long term tenants, or continuing to rent to short term people who are using it as a stepping stone.

I want to make it a better value for potential tenants so that rent increases are justified. Cash flow is non existent currently, and I need to fix that!

Opinions?

Thank you,

Rob

Thank you!

Hello all,

I'm a new investor with minimal experience seeking to learn all I can to move  toward my goal of retirement!

Rob