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Updated almost 10 years ago on . Most recent reply

User Stats

39
Posts
9
Votes
Blake Williams
  • Investor
  • Southbury, CT
9
Votes |
39
Posts

Would you buy a property on the same street as a liquor store?

Blake Williams
  • Investor
  • Southbury, CT
Posted

Hey everyone, another question today.  Just for a quick summary, I'm planning on using an fha loan to buy either a triplex or fourplex and live in one unit while renting out the other two or three depending on what I end up with.  I'm aiming for a buy and hold strategy, and want to keep the property and continue to collect rent when I move out.

I am currently looking at a triplex that looks nice from the outside.  I haven't seen the inside yet and I have no information about what the property makes in terms of rents and what the expenses are just yet, but I'm working on getting that information and seeing the inside as soon as possible.

I can only go off of what I have seen, and the neighborhood itself seems pretty nice.  The house I'm looking at doesn't appear to have any problems that I can see from the outside, the other houses in the area seem to be very well taken care of as well.

My biggest concern with the property so far is that there is a liquor store extremely close to the property.  How close close is extremely you might ask?  I was able to take the picture of the property below (Blue doors) without any zoom from my phone while sitting in the parking lot.

I'm concerned this might make for unruly neighbors or worse yet tenants, potential congestion on the street, and other situations that I might not even be thinking of.  It also doesn't help that the liquor store itself is the most unsightly thing on the street.  What do you think?  Am I reading too much into this, should I stay well away, or just be cautious of the situation?

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