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Updated 12 months ago,
House or an apartment/condo/townhouse as your first rental?
Good evening every one.
I’m planning to invest into my first rental property, I got pre-approved for my first mortgage loan for about $300k for a residential property, so I’m going to live in that place for a year or two then rent it out.
I’m currently looking to buy in North Carolina - Raleigh, Cary or Wilmington.
And I’ve got couple questions.
Is it more profitable to buy an apartment, condo,townhouse and rent it out, OR to buy a house to rent out?
And is getting a three bedroom (apartment or a house) would give you less chances of finding renters, versus if you buy one bedroom apartment or a small house? I feel like the smaller the place (therefore the cheaper the rent), the easier it would be to place the tenants. Or am I wrong to think that way?
I’m very new to this so I’d like to make my decision wisely, and would highly appreciate any advices and suggestions I can get from anyone.
Thank you very much everyone in advance!