Buying Townhomes/Condos for Buy and Hold Strategy

[Danielle Prendergast]

Hi BP,

I know for the most part that buying SFH and mutli family homes are better for long term investing strategies due to the appreciation and HOA/rental factors. However, granted you find a property with decent cash flow, very low HOA, and no current rental caps, would you take the plunge? Basically is it a rule of thumb to just steer away altogether from these and put the money towards SFH or should each property be examined on a case by case basis.

Let me know your thoughts.

Thanks!

[Ben Bakhshi]

Danielle Prendergast, is that in Lawrenceville? You need to see if the HOA will allow you to rent it out to tenants or not. I think $20k is a no-brainer and you should add it to your portfolio. That being said, you'll have good luck reselling this in good condition back to the MLS for a profit. (If this is in Lawrenceville).