Updated about 2 months ago on . Most recent reply
Townhouse as rental
Hey!
What is you're take on purchasing a townhouse as my first rental property. What is the downside? is it better to look for a single family detached house instead?
First time investor here :)
Most Popular Reply
It depends...a few questions:
Is it fee simple? (If not, I would pass).
What is the HOA fee/special assessments/budget?
Is there outdoor space? Adequate parking? Walkability to shopping, dining, parks?
What does the market tell you in the demand for townhouses as rentals and what the rental price within a 1-3 mile radius is for that property type?
Who would be your tenant?
Most townhouses in my market are not good rental opportunities - but I would certainly consider one near a hospital in a price point that would attract medical residents, physicians. Gotta do the vetting.