Thoughts on townhouse rentals, for first property?

[Muhammad Elzeibagh]

Good morning! Apologies if this is in the wrong category as I am still new to this. So If you have read my bio or other post you would seen I’m only 19 but eager to get started. I have been looking for many deals for a while now. I have found some townhomes in the area for about $65,000-85,000. I got a little money saved up. Now for a first timer would anybody recommend buying a townhome and renting it out to start? Rent around the area for townhome is a bout $1200/month. For the most part HOA fees vary from $250-$320.

[Amanda G.]

Hi Muhammad,

You are asking good questions. Run your numbers including the HOA and see what you get. You'll also need to know if the housing association has any rules about not renting out their homes. I have heard of that being an issue with condos. I'm a bit of a control freak so I prefer single family where I am in charge of the capital expenses, but I know people do well with townhomes. Find your local real estate investment group and there will be someone there who has done what you want to do and can answer questions. Good luck!