Where would you buy properties?

[Leo Tsang]

Dear all BPers, I live in Central NJ. I am looking to buy my first investment property in the area. I struggle all the time where my first property should be. I would like it to be closer to me. However the housing price in the area where I am living in is relatively high. The next logical step is looking at the town next to me which is a college town. They have some good properties I could afford. The town statistics also show there are more renters than home owners. It is a good sign that I would find a tenant relatively easier yet the average rent is not as high as I would ask for. Then I see some areas where property prices are within my price range up in the north. When I look at town statistics their poverty rate is over 30%. It makes me worry that I would had difficulty finding a good tenant who would pay at medium rent and even worst s/he might not be able to pay or delay payment for months. My questions are: 1. For a rental property, what location criteria should I take into account? (am I just thinking too much?) 2. Is there a direct relationship with the poverty rate and the rent or frequency of delay payment? 3. Is crime rate a factor to consider when buying a property in a particular area? I also debating if the property should be an apartment/townhouse or a SFH. I love the idea of buying SFH such as duplex. In my town and where I would like to buy, duplex is not very common. Any advice and idea on it? Many thanks. New investor, Leo

[Jonna Weber]

Hi @Leo Tsang! I am in Boise, Idaho, but have some great BP friends in your area that are very in the know.  I would suggest connecting with your local meet ups there, and talking to those that are buy and hold investors.  That first purchase is the hardest...it won't be perfect, but you sure will learn from it and make adjustments as needed.  (just make sure you are at least positive cash flow on that first one. :)  )