Does anyone here have success getting a decent cash flow with these as rentals?
Yes, I have.
In my neck of the woods, townhouses are the low end of middle class housing and command a premium rent over condos and multi-family housing. Like any other property, they must be purchased at the right price to provide cash flow. I like to buy distressed townhomes, preferably not an end unit, put the $$$ and sweat equity needed to bring it up to par, and rent it for a premium. I currently have 2 with a third currently under contract (a short sale that may or may not close). My goal is 10% cash on cash return with 30% equity when all repairs are complete.
jmd_forest
Thanks everyone. I’ll have to investigate the market where I live more to see if it makes sense. I have seen some advertised that are priced low, so that’s why I was wondering.