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Updated about 6 years ago,
Quality vs Cash Flow
Hello,
I'm just starting out and wondering - What do folks think about quality vs cash flow? I'm looking at 2 apartments.
A - is good condition, needs some updates in kitchen/bathroom, listed as 2 bdrm but it's really a 1 bdrm with a french door/den type thing. Has city views in the winter, there's a giant tree outside that blocks city views in summer.
B - is better condition, move in ready, slightly better location, true 2 bdrm. has city views year round.
Both are 4th floor walk ups. Without getting into too much detail, assume i'm putting about the same initial cost into both, dp/closing/reno. A would return me about $$150-200 a month, B would get me $50-$100 a month.
I'm inching towards B just for location/quality sake. I'd lose on income but i'm hoping (with no real data) that as time passes, i'd get more rent and maybe even out the returns. What do you think?