|
It is going to be very hard because single family homes make terrible investments as rental real estate. It generally only makes sense to have at least three units in a building for it to be worthwhile economically. A duplex works if you live in one unit and rent out the other to help pay the mortgage.
And as far as someone who has been trouble selling their house and deciding to rent it out goes, you can forget that unless they invest thousands of dollars, esp if they have an older home. Between the VT Lead paint bureaucracy, fire safety regulations, insurance company inspections etc you end up with several different agencies or companies telling you what you have to do and sometimes contradicting each other. Add to that the fact that it is difficult and expensive to get rid of a bum tenant and most homeowners would rather leave the place empty than rent it out. I know of a gorgeous house near a golf course in the upper valley that the owner wanted to rent out because they couldn't find a buyer - the fire marshall wouldn't ok it because the BR windows didn't meet egress requirements.
Sorry to be so negative but I have just put a single family home on the market to sell because I am fed up with renting it out. (I inherited it) I refuse to rent it anymore and if it takes 2 yrs to sell (average time to sell a home is currently running 18 months) than that is what it is.
Property values are low and so are mortage rates. Maybe you should consider buying - there might be quite a few homes that have been on the market for long enough that the owner will consider a low offer.
Good luck!
|