I am planning my first real investment in a townhome in bellevue area. My whole intention is to have some fixed income via Rent. Is there any compiled list of pros/cons of this investment option?
As far as the concept of owning rentals as an investment it is a great option. The numbers have to be right and you have to be ready to deal with managing your property and tenants.
What are the numbers ? Such as purchase price, down payment, taxes and insurance, and what you can expect for rents. Also any repair costs involved to get it ready.
There is more to learn than just putting out a for rent sign. It really is a science with the numbers and an art managing tenants!
To add to @Mary lou Long's questions, Would it have a homeowner's association to deal with? This is a cost that can change, and you need to be sure they allow renters.
There are some great books about investing. May I suggest "Hold" as well as "The Millionaire Real Estate Investor" as two to start with. There are also great resources right here on BP to help educate investors and would-be investors. Run your numbers. If you are not sure, get some experienced investors to offer their opinion. Don't be afraid to ask anything...you will find many super smart people here willing to help. Good luck.
I think you may be hard pressed to find a cashflow townhome in Bellevue. Remember that cashflow is rent minus cashflow.
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