Owning single-family rental properties doesn’t have to mean buying the standard Bethlehem suburban home. Nowadays, there are more options than ever before for single-family rental property investors. By knowing some of the most imaginative and innovative alternative housing ideas, you might find out a new and profitable niche market for your investment business.
1. Houseboat
If you live near the waterfront, there are many advantages to owning a houseboat. For instance, boats oftentimes cost less than traditional homes, which means a smaller initial investment. A houseboat can likewise be moved from one place to the other, allowing you to take advantage of the strongest markets. Many people dream of living on a boat, so with a suitable marketing scheme, finding a tenant might be much easier than you think.
2. Bus House
A growing trend in mobile living is the bus house. Retrofitted buses are similar to large RVs, but are normally less expensive and are bigger internally. Some buses have more square footage than small studio apartments. Even though you may be required to finance numerous modifications at first, it doesn’t take a lot to turn a bus into a comfortable home.
3. Mobile Home
Despite a somewhat seedy reputation, mobile homes are great opportunities for investors. There are charming, well-groomed mobile home neighborhoods in several locations around the country, many of which are in high demand. Buying and renting mobile homes may be an ideal approach to expand or diversify your investment portfolio.
4. Tiny Homes
Another new trend taking the real estate industry by storm is tiny homes. These pint-sized houses may easily be constructed on existing land or placed on trailers for more ability to move. Either way, they are relatively inexpensive to obtain and good choices for a lot of tenants.
5. Prefabricated Cabins
Who says cabin kits are only for wilderness retreats? Inexpensive prefabricated cabins could be a fast and economical process to broaden your investing horizons. These cabins function specifically well in picture perfect places with nice sceneries.
6. Shipping Container Homes
Shipping containers are versatile structures that can quickly be renovated into a residential home. Similar to a bus or cabin kit, you’ll require some changes to make it a home for a full-time tenant. Though the novelty of living in a shipping container might help you attract tenants searching for less traditional living styles and arrangements.
7. Treehouse
Take living close to nature to a whole new level by investing in a treehouse. As an investor, you can let your creativity run wild by making a treehouse into a rental. And in a similar manner with a tiny house, the initial investment will likely be much smaller than a regular property. However, a grown-up treehouse would clearly attract your tenants’ feeling of nostalgia, while still providing all the convenience of home.
8. Silo Homes
For more rural locations, why not try investing in a silo home? There is no end to the country charm in a small-sized silo home. Old silos are relatively inexpensive, so finishing the interior won’t cost a fortune. Ultimately, you could make a sturdy bungalow that is perfect to rent.
9. Manufactured Home
Even though high-end manufactured homes can cost the same as a more traditional property, in a few markets, they may still require a less expensive investment. They are additionally effortless to retain and have a clean, simple look that countless tenants would perceive attractive.
By thinking outside of the box, you might discover some of the most creative and profitable housing options available. Once you find the perfect rental homes, make sure to contact Real Property Management Lehigh Valley at 484-544-3351 to find out about our flexible property management plans!
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