Owning single-family rental properties doesn’t have to mean buying the standard Brightwood suburban home. These days, there are more options than ever before for single-family rental property investors. Find a new and profitable niche market for your investment business by simply subscribing to a few alternative housing ideas.
If you live near the waterfront, there are many advantages to owning a houseboat. If your budget needs a bit of breathing room, look for something that will need a smaller initial investment. Houseboats are a good example since they cost less than traditional homes. If you want to take advantage of the strongest markets, you might need to move around quite often. With a houseboat, this will not be a problem since they can be moved. Because many people actually dream of living on a boat, it won’t be too difficult to find a tenant for your property — in reality, it might be much easier than you think!
2. Bus House
A growing trend in mobile living is the bus house. Similar to large RVs, retrofitted buses aren’t as pricey, and they are more spacious. Some buses have more square footage than small studio apartments. Turning a bus into a comfortable home doesn’t even require too much of you. There might be a few expenditures to consider, but it will be well worth it.
3. Mobile Home
Despite a somewhat seedy reputation, transferable houses are desirable assets for investors. Scattered across the country are mobile home neighborhoods that are very much in high demand. Buying and renting mobile homes provides a way for you to expand or diversify your investment portfolio.
4. Tiny Homes
Another trend taking the real estate industry by storm is tiny homes. They cost less, but have much to offer; these pint-sized houses are readily built on existing land or placed on trailers. Regardless, these units are relatively inexpensive to purchase, and they are attractive to tenants.
5. Prefabricated Cabins
Who says cabin kits are only for wilderness retreats? Inexpensive prefabricated cabins allow you to broaden your investing horizons. These cabins are perfect for those who are in the market for properties that offer a sense of tranquility.
6. Shipping Container Homes
Shipping containers are versatile structures that can be quickly renovated into a residential home. Similar to a bus or cabin kit, you’ll have to modify a few things to make the unit appealing to a full-time tenant. Nevertheless, the novelty of living in a shipping container might help you attract tenants because of how unconventional it is — some people are actually in the market for these kinds of things.
Take living close to nature to a whole new level by investing in a treehouse. Let your creativity run wild by decking out a treehouse as a rental! Just like the tiny house, the initial investment will likely be much smaller as opposed to a regular property. Still, the magical nostalgia that comes with a grown-up treehouse is undeniably something that brings a wonderful sense of home to interested tenants.
8. Silo Homes
For more rural locations, maybe a silo home will suit your needs? There’s a lot of country charm to be had in silo homes. Old silos are relatively inexpensive, so finishing the interior won’t cost a fortune. Ultimately, a sturdy bungalow that is perfect to rent is a worthy investment.
9. Manufactured Home
While high-end manufactured homes can cost the same as a more traditional property, there are still those that offer them at a more affordable price. You just need to be informed of the different markets that are available. It’s a good thing that these homes have a clean and simple look — it definitely makes it easier to maintain them!
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 Washington DC at 202-813-9993 to find out about our flexible property management plans!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.