Buying 2nd Townhome in the Same community for real estate Investment
Hello BP Experts,
GOOD MORNING!!!
I am sure this question may have been asked and answered multiple times before. I was just not able to search and find the needed answers, so i am trying to get some expert opinions. Apologies for the repeated question.
I recently purchased a Brand new Townhome in a developing neighborhood in the Raleigh-Durham area and leased it out as a real estate investment. Now i see that a second townhome is becoming available for sale by July 2014. This is a brand new construction as well. The price range is ~120K. The community amenities include clubhouse, gym, swimming pool, tennis courts, etc.
Is it a wise idea to investment in two townhomes in the same community/neighborhood as a REI. Any pros and cons to this approach/strategy. The area is fast developing and is located ~10mins from downtown Raleigh area. The typical time to lease out is approximately 1 month from closing.
Your expert opinions is highly appreciated.
Thanks!