Updated almost 14 years ago on . Most recent reply
Pondering my first investment property, help please
Okay folks, I love the forum, long time lurker. I'm thinking of pulling the trigger and getting my first investment property, but I'm torn on how to go about this; condo or SFR in a hot rental neighborhood. This property, http://www.zillow.com/homedetails/2501-Jefferson-Ave-Winston-Salem-NC-27103/5755605_zpid/, is in Ardmore here in town. This neighborhood is very close to major thoroughfares and the best hospital in town with a med school.
The second property is a condo in a complex almost right next to Wake Forest University. This side of town is not really growing, but it has the built-in rental population from the University. http://www.zillow.com/homedetails/422-Timberline-Ridge-Ct-Winston-Salem-NC-27106/60299709_zpid/
How would you go about deciding which way to go? Is the older house going to be so burdened with upkeep costs that I should get the condo, even though I can probably get $200/month more in rent?