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Updated about 11 years ago,
How Low WIll YOU Go?
So I wanted to ask the question...
To all you REIs out there, how lowly of a neighborhood will you look to purchase a home in? Not speaking of the home's condition per se, but instead the neighborhood in which the property resides.
I am in Indianapolis, and am looking at purchasing a property that has had tenants for two years for a cash price of $15,000. That is not a typo. Rent is $535 monthly, and that yields a COC% of roughly 35%. A lot of it is the Indy market, and the neighborhood is not bad, but isn't the ghetto.
Anyways, was curious as to what you guys get yourselves into, and how "low" your neighborhood and pricing standards go. Fire away!