Your SFH rentals
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Your SFH rentals (by Roy [AL]) Aug 10, 2022 9:15 AM
       Your SFH rentals (by Otis [IL]) Aug 10, 2022 9:27 AM
       Your SFH rentals (by S i d [MO]) Aug 10, 2022 9:36 AM
       Your SFH rentals (by S i d [MO]) Aug 10, 2022 9:37 AM
       Your SFH rentals (by Jasper [OH]) Aug 10, 2022 9:38 AM
       Your SFH rentals (by David [MI]) Aug 10, 2022 9:53 AM
       Your SFH rentals (by David [MI]) Aug 10, 2022 9:53 AM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 9:56 AM
       Your SFH rentals (by plenty [MO]) Aug 10, 2022 10:02 AM
       Your SFH rentals (by plenty [MO]) Aug 10, 2022 10:07 AM
       Your SFH rentals (by WMH [NC]) Aug 10, 2022 10:40 AM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 10:52 AM
       Your SFH rentals (by Oregon Woodsmoke [ID]) Aug 10, 2022 10:55 AM
       Your SFH rentals (by Bill [KY]) Aug 10, 2022 11:03 AM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 11:11 AM
       Your SFH rentals (by Ray-N-Pa [PA]) Aug 10, 2022 11:56 AM
       Your SFH rentals (by WMH [NC]) Aug 10, 2022 12:19 PM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 12:30 PM
       Your SFH rentals (by RentsDue [MA]) Aug 10, 2022 12:57 PM
       Your SFH rentals (by WMH [NC]) Aug 10, 2022 1:18 PM
       Your SFH rentals (by LisaFL [FL]) Aug 10, 2022 1:18 PM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 1:37 PM
       Your SFH rentals (by Robert J [CA]) Aug 10, 2022 1:38 PM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 5:30 PM
       Your SFH rentals (by WMH [NC]) Aug 10, 2022 5:54 PM
       Your SFH rentals (by Roy [AL]) Aug 10, 2022 7:28 PM
       Your SFH rentals (by GKARL [PA]) Aug 10, 2022 8:07 PM
       Your SFH rentals (by Deanna [TX]) Aug 10, 2022 10:43 PM

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Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 9:15 AM
Message:

I have 16 SFH and only 2 of them have a 2nd bathroom. If you have at least 3 SFH, how many of them have a 2nd bathroom? Most of my houses were built in 30's, 40's and have less than 1,000 sq. feet. And these small 2/1's are by far my most profitable houses. Cheap to buy, cheap to maintain, and rent at above market rents. What more could you ask for?

How would you describe your SFH rental houses? Do most of them have something in common like mine being mostly small 2/1's? I am just being curious and nosey here. --71.207.xxx.x




Your SFH rentals (by Otis [IL]) Posted on: Aug 10, 2022 9:27 AM
Message:

27 units with only 2 of them having more than one bathroom. Almost all of our houses are small 600-700 square foot 2 bed 1 bath houses. I purposefully look for the post war neighborhoods that every house is exactly like this. Just got an accepted offer yesterday on 2 more of them side by side. Love those little ATM machines. --24.245.xx.xxx




Your SFH rentals (by S i d [MO]) Posted on: Aug 10, 2022 9:36 AM
Message:

Roy,

I own nothing but 1 and 2 BR SFH, duplexes, and 4-plexes in my residential portfolio. Most are between 600 - 900 sq feet, but a few others go over 1000 sq ft.

All of them have 1 bathroom, except I do have one SFH that has a half bath (toilet & sink only).

I do not own any 3 bed room houses, but it seems like around the 1970s 2 bathrooms in a 3 bed house became standard. Some earlier ones have it; many do not.

Pros of 2 bathrooms:

1) More desirable to tenants = less vacancy.

2) If one commode is plugged, they can still use the other until you get it fixed, provided it didn't clog deep down in the line and affect both bathrooms.

Cons:

1) Twice as much chance for leaky flappers, water damages, etc.

2) Twice as much turnover cleaning: bathrooms are usually the filthiest room next to kitchens.

3) For Class B and above rentals: updates. Kitchens and bathrooms are the most expensive rooms to update, costing between $5000 - $20,000 each. Class B and above EXPECT updates. Class C do not. Clean, safe, functional....that's where it's at!

My bottom line is the bottom line: I can get almost twice the rent and have half the expenses of updating in Class C, provided I screen carefully and get good tenants 9 time out of 10, which I do. My eviction rate is below 3%, so while there is the occasional trashed home ($2,000 or so to clean and paint), that pales in comparison to the $10,000 or so Class B land lords must spend remodeling every 10 years or so. When I remodel, it's for function only and it's done as economically as possible while still getting a job done that should last 15+ years. Think adding a shower surround vs the old plastic wall panels that wear out, allow damage to the drywall behind, and must constantly be re-caulked. Or adding a new, better flushing toilet to reduce clogs and water leaks. Cabinets, vanities, tubs and light fixatures? If they work, they stay.

In my mind, a person buys Class B and up with 2 bathrooms if they want a "nicer" area of town with less drama, less cash flow, but more potential for appreciation and the ability to sell to an owner occupant in the future. I buy Class C with 1 bathroom if you want cash flow and are willing to kick over more rocks to find good folks who simply have less money but are otherwise good renters.

--184.4.xx.xx




Your SFH rentals (by S i d [MO]) Posted on: Aug 10, 2022 9:37 AM
Message:

Edit: my one SFH that has a half bath ALSO has a full bath. So it's a 1.5 bath.

31 residential units total.

--184.4.xx.xx




Your SFH rentals (by Jasper [OH]) Posted on: Aug 10, 2022 9:38 AM
Message:

I had 15 SFH at one time, now down to 5. None of them had more than 1 bathroom. All were less than 1200 s.f. --75.91.xxx.xxx




Your SFH rentals (by David [MI]) Posted on: Aug 10, 2022 9:53 AM
Message:

i'd say 90% of the housing in the areas I have rentals are 3 bed 1 bath, 1000 sq ft with a basement. They were built in the 1950s, and some of them were replumbed with a either a shower or half bath in the basement. I'd say less than half.

So my SFH more or less match that. Sure, some applicants are looking for a 2nd bath (usually the roommate groups) but having only the original one bath doesn't hold any house back because it matches the competition.

I did own one 1 bed but I sold it because it was harder to rent since everyone else was renting 3 beds. It also didn't appreciate much in value so I dumped it at the height of the market --50.4.xxx.x




Your SFH rentals (by David [MI]) Posted on: Aug 10, 2022 9:53 AM
Message:

that last sentence should be, " I did own one 2 bed, about 800 sq ft" --50.4.xxx.x




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 9:56 AM
Message:

Otis said, 'Love those little ATM machines'. I hear you ya Otis! I wish I had 27 of them.

Sid - I love your list of the 'pros and cons' of a 2nd bathroom. Those were priceless. 'If one commode gets plugged,...' LOL. --71.207.xxx.x




Your SFH rentals (by plenty [MO]) Posted on: Aug 10, 2022 10:02 AM
Message:

Single family.

4 with 2-full baths (all three bedrooms)

4 with bath plus half (2-two bedrooms and 2- three bedrooms)

6 with one bath (1-two bedroom, 5-three bedrooms)

This is an interesting question! Really making me review inventory and Markets.

--172.56.xx.xxx




Your SFH rentals (by plenty [MO]) Posted on: Aug 10, 2022 10:07 AM
Message:

Correction:

6 with one bath (2-two bedroom, 4-three bedrooms)

Roy I also find my two bedrooms one bath are excellent houses to maintain and rent. The 2 rentals (one mobile home in private land and one single family house) both are easy to rent and folk stay put until the marry or buy a home. There is something about this target market. --172.56.xx.xxx




Your SFH rentals (by WMH [NC]) Posted on: Aug 10, 2022 10:40 AM
Message:

We have 8 2-bed 1.5 bath townhouses. Quite large by our standards, about 1000 square feet, two story.

We have several cabins and cottages, all reduced to 1-bed/1-bath. We have studios: 1-bath.

A few tiny duplexes, all with second bedroom removed or modified.

We only have 4 3-bedroom 2-bath homes. 2 are mobiles on foundation, we rent them as 2-bedrooms. One is a real house. One is modular on foundation, is quite large with family AND sitting room, a real dining room and that rents with all 3 bedrooms. It's also our most expensive rent.

All stay rented. --50.82.xxx.xxx




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 10:52 AM
Message:

WMH - 'We have several cabins and cottages, all reduced to 1-bed/1-bath'.

How many bedrooms did the cabins/cottages begin with? And why would you reduce anything down to just a 1 bedroom? Seems counter-productive but I am sure you had a good reason for it.

Is it true that many of your rental units are in a compound type arrangement (multiple houses on one big lot) and your primary residence is in the middle of this big lot? --71.207.xxx.x




Your SFH rentals (by Oregon Woodsmoke [ID]) Posted on: Aug 10, 2022 10:55 AM
Message:

I'm shopping right now. Must have:

2 bathrooms

2-3 bedrooms

no stairs which also means no basement

minimum size 1300 sq ft.

a garage

clean neighborhood, no rundown neighbors

laundry hookups

a big plus:

A good solid fence around the backyard

hooked to the gas mains, gas heat is a lot cheaper to run and there aren't any gas line blackouts.

a garden storage shed

easy care landscaping.

Air-conditioning

--76.178.xxx.xxx




Your SFH rentals (by Bill [KY]) Posted on: Aug 10, 2022 11:03 AM
Message:

I have a few 1000 sq ft, 1950’s built, brick 3/1 ba houses. Price has risen greatly for these…in 2006, you could buy for 100k. Today, it’s 200-215k. These will rent for $1500 in my mkt.

My wife gets nervous with our reliance on 1 bath homes in the future…everybody wants the 2nd bath but we’ve never had a problem renting ours, usually to divorcees or single folks with a dog that are tired of apt living. --75.117.xxx.xx




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 11:11 AM
Message:

Bill (KY)

Those 1950's brick 3/1 houses can still be bought in my town for $100K or less. Rents would be more like a $850-$1,000 though. Tell your wife to calm down and that everything will be just fine with your 1 bath houses. --71.207.xxx.x




Your SFH rentals (by Ray-N-Pa [PA]) Posted on: Aug 10, 2022 11:56 AM
Message:

I prefer a 3 BR 1 Ba brock ranch with a 1 car. The kitchen is typically on the end with a door from the garage to the house.

It is very easy to place a half bath in that small spot. The plumbing is right there and access is easy.

In the MFH world I live in most of the places have only 1 bathroom.

In my SFH niche, about 40% or so my places have only one bathroom. More and more, you need to have at least a spare half bath to be competitive. That extra half bath does get me an extra $50-70 in rent but it keeps retention up too --24.101.xxx.xxx




Your SFH rentals (by WMH [NC]) Posted on: Aug 10, 2022 12:19 PM
Message:

Roy we have re-purposed bedrooms as laundry rooms in several places. The tenants these smaller places attract value laundry more than a second bedroom: young couples, older singles.

Now that I think about it, we have only ONE true SFH if we are basing it on one house, one lot of land. That is not our ideal property at all.

All the rest share land, if not walls, with each other. We have our own place, which is our place, an apartment and 4 studio cabins. We have another place which is 3 little cabins all in a row. Some places with external, separate ADUs in outbuildings. Some duplexes and quadplexes that share walls.

We try never to just buy one house with no potential for adding another unit easily. --50.82.xxx.xxx




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 12:30 PM
Message:

WMH,

I would like to see a photo taken from a Drone that shows all your units. It is hard to me to picture how all of your rental properties seem to be in some type of cluster. Do you and your DH live real close to your tenants? I have to keep a 5 mile minimum distance between my primary residence and my nearest rental house. --71.207.xxx.x




Your SFH rentals (by RentsDue [MA]) Posted on: Aug 10, 2022 12:57 PM
Message:

Informative post. Right now I have 2 SF . Both are 4 BR and 1.5 bath. All but the smallest of our apartments have 1.5 baths. People here are weird about that. --68.191.xx.xx




Your SFH rentals (by WMH [NC]) Posted on: Aug 10, 2022 1:18 PM
Message:

No not as clustered as you are picturing them. Except of course the ones that do share property. To the east, there are a few on the same road, a few in the same neighborhood, and maybe one outlier. None more than 15 miles/20 minutes from us. And both Lowes and Home Depot are right there too.

Then going north from our house, the properties tend to be again about 15 minutes away. Most are in the same neighborhood, with a couple of outliers. We switched our hunting ground up there when beach properties became simply too expensive. We haven't bought on the beach since 2011, maybe? Yet our last purchase in this county was 2021. --50.82.xxx.xxx




Your SFH rentals (by LisaFL [FL]) Posted on: Aug 10, 2022 1:18 PM
Message:

I have 17 left:

1/1 (2)

2/1 (2)

2/1.5 (1)

2/2 (2)

3/1 (5)

3/1.5 (2)

3/2 (2)

4/2 (1)

Except for the 1/1s (duplex) all of mine have either a one or two car garage or an attached carport. Everything I’ve ever bought has always had a garage or carport. --75.89.xxx.xxx




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 1:37 PM
Message:

Lisa,

I have only 2 that have attached garages and those are 1 car garage only. Nobody actually parks their car in them,..they use them to store all of their worthless Walmart junk in. --71.207.xxx.x




Your SFH rentals (by Robert J [CA]) Posted on: Aug 10, 2022 1:38 PM
Message:

I am a licensed contractor and plumber. My first house with a problem with bathrooms was back in 1979, I was only 19 years old. The house had a great layout and a heated pool. Three bedrooms with 1-1/2 bathrooms. I could not get roommates to rent the home, only families -- problem with houses without a second bathroom with only a toilet and sink, no shower or bathtub.

So the second (1/2) bathroom was located along the walkway to the front door and one wall was against the garage. So after a couple of years having troubles getting quick replacement tenants, I decided to cut open the wall from the bathroom to the garage and install a Shower Stall.

Around $600 later I now had two bathrooms, one with a bathtub/shower and the second with a shower stall.

This helped me rent out the place and I sold that house in a week with that Model type of house with a second 3/4 bathroom.

From that point on, I added bathroom to homes all of the time.

In 1998 I purchased several homes on a lot. All were 3 bedroom with only 1 bathroom. In each home the Master Bedroom had second closet, around 5' x 6'. Just enough space to install a toilet, sink and corner shower. Rent went from $800 a month to $995 with that extra bathroom. --47.156.xx.xx




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 5:30 PM
Message:

Robert J,

When you are a licensed plumber and electrician, adding a 2nd bath does not cost very much. With my last major rehab, I paid contractors to build my first 2nd bath to a house and that cost me $6,000. I will never do that again. I bought a 4/1 and when I was done, I ended up with a 3/2. 4th bedroom got converted into a laundry room instead. --71.207.xxx.x




Your SFH rentals (by WMH [NC]) Posted on: Aug 10, 2022 5:54 PM
Message:

Roy, we don't add bathrooms unless none exist yet (such as when we are building out an ADU.) But yes, to do it according to the permit and using a licensed plumber, it's about $5k then remaining finishes and fixtures, which we do ourselves.

We wouldn't add a second bath because we want fewer people in our places, not more. Unless it absolutely made sense which I can't think how it would at any of our places. --50.82.xxx.xxx




Your SFH rentals (by Roy [AL]) Posted on: Aug 10, 2022 7:28 PM
Message:

WMH,

Would you mind telling me what the average cost is to rehab a typical ADU that needs all new plumbing (including sewer), electrical, roofing, etc. etc. I have only done one which was a 1/1/1 garage apartment and in 2018, that one cost me $10K to rehab it from top to bottom. --71.207.xxx.x




Your SFH rentals (by GKARL [PA]) Posted on: Aug 10, 2022 8:07 PM
Message:

Interesting discussion. I am mainly a mfh investor but have one large SFH I'm currently renovating which is a large 3 bedroom with two full baths. My concern with this place is the size of the family it will attract, the associated wear and tear and turnover effort. I prefer smaller units for the much the same reason as WHM. I suppose I need to see who I pull once I'm ready to rent. --209.122.xx.xxx




Your SFH rentals (by Deanna [TX]) Posted on: Aug 10, 2022 10:43 PM
Message:

Not separating out "working" vs "under renovation" vs "to be renovated"---

(7) 1/1's

(1) 1/1.5's

(1) 1/2 (yeah, it's really weird)

(11) 2/1's

(1) 2/1.5

(5) 3/1's

(1) 3/1.5

(2) 3/2's

(1) 4/2

Caveat, 2 of the 1/1's are a duplex, and 3 of the 1/1's are garage apartments. Most of them were built in that 1920's-1949 time period.

--137.118.xx.xxx



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