Investing in townhouses?
Hello everyone,
I recently moved to the US from abroad, I would like to start investing in real estate and I was wondering if investing in townhouses would be a good idea.The pros are that there are many in my area, it's a very nice area (North of Pittsburgh, PA) so I wouldn't have to worry about problematic tenants and, they are almost all rent-ready or need very little cosmetic improvements. This would definitely help me overcome the fear of starting investing in a new country.
On the downside, cash flow is almost always negative if I put 20% down and considering the current mortgage rates. That wouldn't be a big problem for me, I have a good job and have no plans to leave it, I would invest to create wealth in the long term. But does it make sense?
I did some research, in my area a 2beds, 1.5 baths is about 200k and they rent for about 1.6/1.7k.
Just wondering if anyone is investing in this type of property, I'd be happy to hear your feedback.
Thank you!
Andrea