1 Bedroom Apt Building-- 1st Investment
I am looking at a 12 unit bldg with 1 bedroom apts, the numbers look good but have heard that 2 bedroom units are the way to go and to stay away from 1 beds. This would be my 1st investment property and would appreciate any feedback. many thanks in advance. :-)
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There's no quick answer to this as it varies from area to area. Find out what YOUR market is like. You may want to find people that own 1/1's in the area and find out what they think about it. Make sure the rents are "in check" with your market.
The short answer, is "yes, you can make money with a 1/1 apartment building"
esp. if you don't mine sect 8 or other subsidized renting.
thanks for the relies are there any rules of thumb for turnover of tenants in 1/1 versus 2bed units. thanks in advance.