Many investors have varied opinions on a good rental property. Some like duplexes, others like townhomes, some like distressed properties, others like condos.
I used to favour converted single family houses with basement apartments.
Each person can find a reason to justify his preference. For instance the condo renter will have no exterior maintenence problems. I used to say that having a converted property put two tenants in one place for more convenience.
But is there really a property type that stands out from the rest?
Yes there is, the one that has a positive cash flow. That is the only true measuring stick. Once you have acheived this, then choose the property type you like.
Many an investor tosses away oppurtunities, too old, too new, don't like condos, etc... but don't. The only one you should toss away are those that don't meet your cash flow standard.
As per my previous article, establish your cashflow standard and stick to it!
It will serve you well!
posted by Greg @ 3:46 PM
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