03 Mar Convert a 4-Bedroom, 1-Bathroom House Into a 3-Bedroom, 2-Bathroom House
If you buy a 4-bedroom, 1-bathroom house, convert it into a 3-bedroom, 2-bathroom house. This principle applies regardless of whether you are a flipper or landlord.
If you are a landlord, there is a larger pool of renters for a 3-bedroom unit versus a 4-bedroom unit. If your rental only has one bathroom and there is a problem with a clogged toilet or malfunctioning shower, you may have to pay extra to rush a plumber out there. If the renters have a second bathroom, then it’s not as much of an emergency. The tenants are more likely to lease the home for a long time because of the convenience of a second bathroom.
If you are a flipper, you also have a larger pool of potential buyers for a 3-bedroom house versus a 4-bedroom one. The second bathroom adds a lot of value in the buyer’s eyes and in their appraiser’s eyes.
If you have to open a wall to make a master bedroom with a huge master bathroom, do it. The decision-makers for a purchase or a rental crave a spacious master suite.
If you have a 3-bedroom, 1-bathroom house, see if you can convert it into at least a 1.5-bathroom house. Sometimes that may not be practicable. Yet even that half-bath adds convenience and value. Let me know how your renovation is going!
Tai DeSa is a graduate of The Wharton School of the University of Pennsylvania. He became a full-time real estate investor in 2004 after serving in the U.S. Navy. Tai made colossal mistakes in investing (and learned some things along the way). Tai has coached hundreds of entrepreneurs, real estate investors, and real estate agents on how to increase their income and net worth. He has helped hundreds of homeowners avoid foreclosure through successful short sales. Check out Tai’s books on Amazon.com. Tai may be available for coaching and speaking engagements on a variety of real estate topics. Send an email to tai@investandtransform.com..
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