Looking for my first investment property, but having trouble picking a neighborhood

[Justyn Hope]

Hello Everyone -

I am looking to purchase my first investment property. I've decided to purchase a single family home in Birmingham, AL. I have found a realtor, property manager, and financing. The problem I'm having is picking a neighborhood. I initially planned on purchasing a home for around $100K and putting 20% down. I spend a decent amount of time analyzing deals - the only homes that seem to work are in the $50K-$65K range. I'm not sure if my expectations are too high, or if I  have not found the right deal yet. I'm an out of state investor so I don't know the area that well - I'm going off of research and what my property manager has said. It almost seems as if it's a street by street basis..  I'm afraid of picking an "okay" area over a "good" area and it turning out to be a bad investment.  Any advice?

[Nathan Gesner]

Quote from @Justyn Hope:

Two suggestions:

1. If you plan to hire a property manager, use that as your first step. Find a good property manager, then ask them where to invest. They won't steer you wrong because they will be the one dealing with it.

2. If you plan to self-manage, you can still call around to property managers. Tell them you are looking to invest and are considering property management (even if you aren't). Ask them to recommend neighborhoods that perform well. Get answers from several property managers and you should see some similarities in their answers. That will narrow you in on specific neighborhoods.