Thoughts on townhomes/townhouses as investments?
Hello all,
I have been looking to buy my first rental property for some time now; however, I also need a place to live and don't want to throw money away by paying rent. I'm a recent graduate with a job in the Dallas, TX area. I've been looking for a cheap house to live in, then eventually rent it out and move on to the next. I keep coming across pretty nice neighborhoods with a good amount of townhouses available for about $100-$150k (my price range).
So my thought is buying one of the cheapest houses to live in and flip over time, and eventually acquire the capital to buy more in the same neighborhood so I can easily manage them. I'd like to hear y'all's thoughts on this strategy and townhouses in general.
And I know the word townhome/townhouse can mean a couple of different things, so I'll clarify what I'm talking about. The townhouses in this specific neighborhood are basically duplexes, just two-story condos paired up on one lot.
Thanks for reading and looking forward to your responses.
-Lance