What's the better investment buy a condo eventually move out to rent it or buying a 2 family home and renting?

Answer 1

That is not necessarily the case. You have to take a look at the market where you live in, and look at the overall picture. You might live in a community where Condos are easier to sell and rent than 2 family homes and vice versa. Remember the rule of supply and demand. In my area I will never buy a condo because I get a better cash flow with a multiple family either I sale or rent. Also try getting away from your are for higher profits even if you have to pay maintenance but you will double your total profits. I live in NJ and have multiple family's in NJ but I have Condos in Punta Cana Dominican Republic, and Condos in Florida.
I can pick up 1, 2, and 3 bedroom apartments in Punta Cana Dominican Republic in the resort town for $40,000 $70,000 and $90,000

Answer 2

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Answer 3

If you find a two family home with a nice yard and a garage for each unit with no HOA fees in a nice residential area, in my opinion it would be more desirable than a condo to a prospective tenant. If that's the case it will be easier to rent out. Plus there tend to be fewer of these available than condos so you won't have as much competition when you're looking for tenants.

Answer 4

Buying a single family home is always first in the real estate chain, followed by town homes and then condos.

With a duplex or 2 family home you will immediately have someone to assist you in making your mortgage payments of as least as soon as you find a renter.

You should immediately join your local Apartment House Association. This association is set up to assist land lords with appropriate rent, rental/lease forms. They can tell you and assist you with ways to go about evictions and other things you will need to know about being a landlord.

They hold monthly meetings, can normally assist with small legal advise. They can also assist you with finding someone that will give you access to credit reports to assist you with making a decision as to if you want to rent to someone or not.

This is just one member of your team, don't forget your CPA to assist you with what is tax deductible with the IRS as well as you state taxes. You will also need a handy person for simple things that need repairing unless you intend to do it yourself.

After a certain amount of time you should look at the possibility of doing this again, thus increasing your wealth as well as adding to your monthly income.

I hope this is of some use to you, good luck.

"FIGHT ON"

Answer 5

buying a 2 family home. my dad did this. made a poo-load of money. just make sure you have good lawyers and a contract with the renting family because what can happend is the family winds up not wanting to move out!

Answer 6

Rent-To-Own Home : http://RentToOwnHome.uzaev.com/?WrOf