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Updated almost 5 years ago on . Most recent reply
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Should I buy in A-A plus neighborhood?
Debating whether to buy off market property in Houston that is 20 % below recent sales, walk scores are decent, all the schools are between 6-7 and rent is .8%-1% of the value. My reluctance is that it is in an A -A+ neighborhood and everyone I've listened to has said that it is best to buy in a B-C+/blue collar neighborhood so that your chances of keeping a longer term tenant and avoiding annual vacancies will be low. Property doesn't need a stitch of work and is super clean but for whatever reason they are selling below and off-market.
Would appreciate your feedback.......Maurice
Most Popular Reply
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What area are you calling A+? The reason those blue collar areas are often suggested is the returns are better. If you can get near 1% in an A area do it all day long