In a few hours one of America’s biggest sporting events will take place. Based on the teams i think any football fan may see a great game with lots of offense. But how could the Super Bowl be related to duplexes in any possible way? Well its more an idea for a creative duplex investor more than anything.
If your looking for a niche for your duplex investing, how about having duplexes in areas with high volume events. When the events come along and if you have vacancy in any unit, you could provide a great 1-2 weeks short term home rental for a nice price. There are some companies that provide services with this general idea such as bowlgamerentals. As with anything like this learn the rules that apply to renting out your property for events, but by doing so it could be a very profitable idea.
At some point a real estate investor will consider converting a single family residence into a duplex property. When crunching the numbers on a certain property it may not make sense as a single but as a double, the property investment has promise. There are several factors to consider when assessing if a certain property should be converted.
Here are our top 3:
First is the zoning board in the particular area you are considering the duplex conversion. Look at the zoning map and see if there are any other duplexes. Also find out if there were any recent duplex or multifamily conversions within a one mile radius of the potential home investment.
Second is to consider the layout of the property. What kind of symmetry does the house have between the two sides? For example does each side of the house have a bathroom and is there any non-bedrooms that can be converted to a bedroom?
Third is the viability of a duplex or other multifamily property inside that general vicinity. Let’s say you do get a rezoning; would a person in that particular area be interested in a duplex rental? Make sure the demand for this type of property fits the demographics.