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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think a duplex in DC is a better investment. Of course if you know you are likely to live there in the future and that your kids can live there it could be smart as a retirement plan (particularly if you have the cash flow to operate at a small loss or low profit margin in the short term). If you are local I would advise against using property management (DIY with a good handyman instead) so that you have more control over tenant selection and because it seriously eats into your profit. I have been a DC landlord for 6 yrs btw. If you pick good tenants (employed, semi decent cleaning ethic), rent at a decent price, and don't make the mistake of sinking too much money into your rental, you can make money.[/quote]

"don't make the mistake of sinking too much money into your rental"
what do you mean by this?
putting too much down?
or renovating toomuch?[/quote]

Putting in a fancy kitchen, fancy floors, etc that aren't worth the return on investment. Say for example you spend $15K renovating a U st 1 bed property that now pulls $2500/mo. Prior to renovation, you got $1900/mo. You will need to rent the apartment for 25 mo before you get any return on your renovation. There is something to be said for keeping it simple and functional.[/quote]

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