Lack of investor activity? - Only rehab in the neighborhood

[Martin Lindsay]

I try to be selective about my posts to avoid being redundant so apologies if I missed a previous discussion about this!

Found a property that looked like it had some good potential numbers-wise:

75k Purchase price

~30k Rehab

3/1 with 1600 sq ft with potential conversion to a 4/2

ARV based off of local comps 140k-150k

Solid. 

The only thing that gave me cold feet (as a new investor, many things do) was that when I was looking into the area, I didn't see a lot of recently rehabbed homes. At least not in the neighborhood and immediate surrounding. Most of the comps were newer homes like built in the 1980s and newer, this one apparently 1900. 

The house is in Concord, NC and I live in Charlotte. Concord is a smaller town on the edge of Charlotte that has a good market for growth so I feel confident overall, but most SFH homes I've analyze I've found at least a few other comparables that were renovated, signifying investor activity.

-What parameters do you set when considering your potential area? Meaning do you look at activity within the neighborhood only, the surrounding 1 mile radius, the whole town etc. to verify that the deal will be productive?

 Thanks BP!