Owning single-family rental properties doesn’t have to mean buying the standard Houston suburban home. Today, there are more options than ever before for single-family rental property investors. By getting to know for yourself some of the most innovative alternative housing ideas, you may certainly uncover 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. As an illustration, boats generally cost way less than traditional homes, which means a smaller initial investment. A houseboat can as well be moved from one place to another, letting you take advantage of the strongest markets. Many people dream of living on a boat, so with the correct marketing plan, 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 usually cheaper and are wider as well as bigger inside. Some buses have more square footage than small studio apartments. Despite the fact that you may have to invest in several improvements initially, it doesn’t take too much to turn a bus into a comfortable home.
3. Mobile Home
Despite a somewhat seedy reputation, mobile homes are good opportunities for investors. There are fine, well-tended mobile home neighborhoods in a lot of sites around the country, many of which are in high demand. Buying and renting mobile homes might be a superb way to expand or diversify your investment portfolio.
4. Tiny Homes
A recent trend taking the real estate industry by storm is tiny homes. These pint-sized houses can be quickly built on existing land or placed on trailers for more mobility. In any case, they are relatively inexpensive to possess and a suitable alternative for numerous tenants.
5. Prefabricated Cabins
Who says cabin kits are only for wilderness retreats? Inexpensive prefabricated cabins would be a swift and cost-effective means to broaden your investing horizons. These cabins work primarily fine in wonderful locations with gorgeous surroundings.
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 need certain updates to alter it and make it a home for a full-time tenant. Nonetheless, the novelty of living in a shipping container might help you attract tenants seeking a more different and less traditional living arrangement.
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 planning and building a treehouse as a rental. And very much the same as a tiny house, the initial investment will likely be much smaller than a traditional property. But for sure, a grown-up treehouse will easily fascinate and appeal to your tenants’ perception and sense of nostalgia, while additionally giving all the comforts of home.
8. Silo Homes
For more rural locations, why not consider and try to procure a silo home? There is no end to the country charm in a tiny silo home. Old silos are relatively inexpensive, so finishing the interior won’t cost a fortune. Eventually, you could build 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 number of markets, they might still present as the less costly choice. And they are generally uncomplicated to hold and maintain, as well as have a clean, simple look that lots of tenants can find fascinating and alluring.
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 Heritage at 832-449-5263 to find out about our flexible property management plans!
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