Herndon, VA · Member since 2014 · 1k+ posts · 324 votes
Our plan is to sell our previous residence(a SFH, with poor rent/value ratio) and buy a property that does better on a cash-flow basis.
The plan is buy and hold properties, and hopefully relatively easy ones. Condos would seem to fit the criteria. The older Condos have condo fees that seriously cut into the cash-flow. Right now the most appealing options are some of the smaller Townhouses in the area.
Some of the Townhouses only have 2 bedrooms. Is this a big negative in the rental market? What if the choice is between 3 level and 2 bedrooms or 3 bedrooms and 2 levels - and other factors equal?
If we go with a condo - either initially or as a 2nd investment property, is there generally a big rent difference between 1 and 2 bedrooms for the same square footage?
An early mentor of mine convinced me to stay away from condo investing. I am glad I took the advice.
I am actually quite familiar with Reston (my aunt and uncle live there). There is plenty of nice (new) property in the area, but I would definitely go with the townhome.
As for bedrooms. As a farther DC burb, you are more likely to get the families, which naturally makes the three bedroom more desirable. Young professionals can do a 1-2 bedroom, no problem. I just don't know how many younger folks would choose to commute from Reston.