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Updated almost 8 years ago,
Looking at C properties 2hrs away
Looking at 3 wholesale properties in Jackson, TN: a duplix and 2 SFU's -- total rent ~$2150. They are definitely in C areas & tenants (one of them is section 8) but are leased, recently rehabbed, the cash flow is great, and they have property management in place. I would likely conservatively NET cash flow ~$850/mo after expenses, incidentals, mgmt, tax, debt service, etc.
Jackson is 2hrs from me, and I've never purchased properties outside of Nashville. I'm well aware of the class of tenants and potentail vacancy issues that could arise here but the cash flow is tough to ignore..
Any tips or things I should consider when purchasing C properties that arent in my home town?
Thanks all