Owning single-family rental properties doesn’t have to mean buying the standard Hot Springs Village suburban home. These days, there are more options than ever before for single-family rental property investors. Alternative housing ideas are a great way to see some new and profitable niche markets for your investment business.
1. Houseboat
If you live near the waterfront, there are many advantages to owning a houseboat. If you do opt for these homes, they are priced less than traditional ones. That means that you’ll only need a smaller initial investment. Also, because of its mobility, houseboats can be moved around. This allows you to take advantage of the strongest markets. As long as you have a solid game plan for how you want to market your property, finding a tenant might be much easier than you think. Many people, after all, dream of living on a boat.
2. Bus House
A growing trend in mobile living is the bus house. Retrofitted buses are similar to large RVs, except they aren’t as expensive and they have more space. Some buses have more square footage than small studio apartments. It will take a bit of effort and resources to improve the space, but it really doesn’t take much to turn a bus into a comfortable home.
3. Mobile Home
Despite a somewhat seedy reputation, transportable houses are attractive opportunities for investors. Readily accessible mobile home neighborhoods are located in different parts of the country. These neighborhoods are well maintained, and they are in high demand. If you want to expand or diversify your investment portfolio, you should consider buying and renting mobile homes.
4. Tiny Homes
Another trend taking the real estate industry by storm is tiny homes. These adorable pint-sized houses are ready to be built on existing land or placed on trailers if you want to move around. Nonetheless, they are relatively inexpensive in cost, and they are appealing to a lot of tenants.
5. Prefabricated Cabins
Who says cabin kits are only for wilderness retreats? Inexpensive prefabricated cabins are an affordable means to broadening your investing horizons. These cabins work well in areas that offer a scenic view of nature.
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 will have to update the entire look of the place to make it attractive to full-time tenants. However, the novelty of living in a shipping container might help you attract tenants who are looking for not-so-conventional homes.
7. Treehouse
Take living close to nature to a whole new level by investing in a treehouse. A treehouse as a rental is a good property investment. It may not be typical, but you can definitely let your creativity run wild! Similar to that of a tiny house, a treehouse’s initial investment will likely be much smaller than that of a more orthodox housing. However, if a grown-up treehouse sparks nostalgia in tenants, then it would have been an interesting investment, at the very least.
8. Silo Homes
For more rural locations, a silo home could be a profitable investment. Don’t underestimate the country charm that a silo home brings. Old silos are relatively inexpensive, so finishing the interior won’t cost a fortune. An affordable and sturdy bungalow that is perfect to rent is what you will have had in the end.
9. Manufactured Home
While high-end manufactured homes can cost the same as a more traditional property, other markets might be pricing them at a significantly lower rate. Because these homes have that clean and simple look, a number of tenants just might find them enticing.
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 Hometown at 501-701-4702 or 501-303-6870 to find out about our flexible property management plans!
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