Posted by David Krulac on March 23, 2005 at 10:14:00:
before buidling codes. even now in rural areas boca codes aren’t followed.
We had an electrical problem in a basement last week. I was complaining to the electrician about the 4 foot ceiling height. He said its a lot better than a crawl space.
I have found that there is a good demand for one bedroom houses (and yes I do have a few of them). In our society, there is a steady stream of recently divorced women and single/young women with a child (or pregnant). These two groups are prime candidates for one bedroom houses. The only down side is that the turnover is higher than for a two or three bedroom houses because they quickly outgrow the house. On the very positive side, you can rent a one bedroom house for almost the same price as a two or three bedroom (which astounds me).
I wouldn’t want to hold a high percentage of one bedroom houses in my portfolio because they are harder to sell, but they do make good rental properties.
Dont think Ive ever seen one. Are they vacation cottages or tourist cabins? Sounds more like a motel or resort type business than a real estate investment.
Is it rented now? Can you continue to rent it, and can you find good tenants who want that type of accommmodation? Will it make a good long term investment? In that case I wouldnt be afraid of it if it was a good buy.
How big is the lot? Would it be possible to build onto it in future? You may not want to do it but a potential buyer might.
I wouldnt turn it down if it was a good investment, on the other hand I wouldnt buy a dog just because it was cheap. Sorry I cant be more helpful without seeing the property but I hope this gives you some ideas.
I recently looked at a house - Posted by David Krulac
Posted by David Krulac on March 23, 2005 at 06:18:30:
that was advertised as 3 bedrooms, however what they were counting as 1 bedroom was the landing at the top of the stairs on the 2nd floor. You could fit a bed there but had to walk through to the other bedroom. There was another “Bedroom” on the first floor that was 6 feet by 10 feet. To me this was a 1.5 bedroom house not a 3 bedroom house.
I’ve seen other house with 5 foot ceilings on the 2nd floor. To me they are not bedrooms since most people other than children are taller than 5 feet. Heck i have a nephew in the 4th grad who’s 5’ 2".
Re: I recently looked at a house - Posted by Killer Joe
Posted by Killer Joe on March 23, 2005 at 11:03:49:
David,
Correct me if I’m wrong, but it is my understanding that HUD has a requirement of at least 48" of closet space and an egress window for it to be considered a ‘bedroom’.