Should I buy a 3 unit in a city building a 148 unit complex?

[Franco Urbaez]

Hello all,

Looking for some guidance.  I'm looking to invest in a 3 unit apartment building in Easton PA (and for those of you familiar, the city is redeveloping the old silk mill into a 148 unit apartment complex filled with small shops).  Would you guys buy in an area where you know there will be THAT much competition for your rentals?

Or do you see it as the demand is so great that they would have to do that?  I see pros and cons of both sides, but just wondering if someone has gone through it and what mistakes to avoid?  Thanks!

Dream BIG,

Franco :)