Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

30
Posts
18
Votes
Tony Gaultney
  • St. Louis, MO
18
Votes |
30
Posts

Buying an investment in a rough neighborhood

Tony Gaultney
  • St. Louis, MO
Posted

Hi everyone,

I’m currently a new investor wanting to purchase my first rental property. I live in a Suburb outside of Saint louis and I’ve found homes in the saint louis area fully turn key renovated property single family homes for 35k-50k. I did market research on the rent and they go anywhere from 650-900 a month rent. Just would like to get you’re take on buying rental investments in areas of town that are a little more rough than some. Thanks for you’re time .

Most Popular Reply

User Stats

1,668
Posts
2,345
Votes
Linda S.
  • Investor
  • Richmond, VA
2,345
Votes |
1,668
Posts
Linda S.
  • Investor
  • Richmond, VA
Replied

@Tony Gaultney,

We focus on C/D properties and focus on providing high quality, low income rentals.    My favorite rental quote--- "Everyone needs a home!"

One thing I would STRONGLY advise, is to go to each street-- if it's cheap, why?  Is it right near a ghetto where it has weekly shootings nearby?  Are all the houses nearby vacant/boarded up, or do you see other money being invested?  I love seeing older people as neighbors, they watch the neighborhood and often own their homes and make wonderful neighbors.  See new roofs-- great-- that shows the owner is invested long term.     Is there an obvious unlicensed pharmacist practicing?   you absolutely  must understand why it's cheap, and then see if you like and believe in the area.   Checking it out visually and in person is  an intangible human test that you can't quantify, but IMO is incredibly important.      

 Stupid money IMO is just thrown where the math/numbers make sense,  and then people are so surprised it's a really, really bad area!     Don't fall into that bucket, use your brain and your eyes/gut and make an educated and smart decision! 

Loading replies...