Bottom line is a townhome for $400,000 would be easy to rent and possibly end in a positive cash flow situation. Also there's a higher demand for renting Townhomes and Condos than a SFR. Rental market has been extremely demanding the past few years and there has been a dramatic increase in rent rates. If I was investing at the moment I would pick up a few affordable townhomes and get solid renters in place. Easier maintenance in between tenants, much easier to rent out and manage yourself versus paying 10% to a property manager.
I manage 15 Properties in Arizona and it's a very simple thing for you to accomplish with the resources they offer on the internet these days. This way you can cut out some of the costs and put that money back in your pockets.
Go With A Townhome/Condo!
United Real Estate
Realtor, J. Rockcliff Realtors
Cal BRE # 01884266
Direct: (925) 705-5315
The first step is usually looking at your price range, and cash to put down. The recent increases in values now requires a larger cash investment to break even or run a positive.
We have helped several investors recently on rental purchases, most buying in San Ramon and Dublin. We also handle the property management side, rates from $95 per month to $175 depending on the rent amount.
Hope that helps a little.
Fox Real Estate
4115 Blackhawk Plaza Circle, Suite 100
Danville, CA 94506 (925) 735-7555