Typical Time To Allot For New Tenants: Single Fam
I'm just getting started in REI, reading the Weekend Millionaire, and have yet to purchase my first rental.
The book indicates that single-familty homes are easier to rent out than apartments (and the turn around is faster). They provide for greater liquidity (if needed) and tenants of sing fam homes tend to be more stable.
Based on the experience of the board, would you agree or disagree w/ this? Why or why not? Any help is greatly appreciated.
I would agree with this but it fails to mention that a premium is typically paid for a SFR per unit than a MFR which is where you run into cash flow problems....In my area if I can get a SFR that cash flows I am all over it but they dont come about without a LOT of leg work.....or fix up to make happen.....on the other hand I have been finding duplexes that are 3bdr 2bth that are also going to more stable tenants and are better for cashflow.......To me its not a good investment unless someone else is getting up going to work to pay my mortgage, insurance, taxes AND putting some money in my pocket every month....the advantages are that while they are doing this it is usually appreciating in value and providing me with tax breaks....The disadvantages are when there is a problem either with the unit or the tenant........learn your market and find what works there....know rental prices and start looking......