Investor · FL · Member since 2022 · 26 posts · 9 votes
I have a property I am looking at out of state in Cincinati- I currently live in the FL. My Agent is telling me the property is in a C or C- neighborhood. Any advice on if I should stay away from a C/C- area with it potentially being my first out of state property.
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y
I have a simple but scientifically proven formula for that. If someone tells you a property is a C you can bet it is a D.
Unless you are the type of LL that profits in the shadier neighborhoods-and there are those that do, always buy the best you can; much easier to manage for you or your PM, and it will attract the best tenants.
Irvine, CA · Member since 2016 · 545 posts · 614 votes
3y
I don't invest in the C-, D Class neighborhoods. I consider these to be a specialty real estate class since they require more than the average type of landlord experience to succeed in this RE investment class. If you're going to use a PM make sure they have dealt in this tenant base for a while.
If you're really interested I would recommend taking the plane ride from FL to Cincinnati for a few $$ and check out the property and neighborhood. Make it a long weekend checking out the area during the day and night on Friday, Saturday, and leave on a Sunday. Look at the entire neighborhood, not jut the block your property will be on.
I have a property I am looking at out of state in Cincinati- I currently live in the FL. My Agent is telling me the property is in a C or C- neighborhood. Any advice on if I should stay away from a C/C- area with it potentially being my first out of state property.
C neighborhoods are typically working class neighborhoods with a mix of tenants and owner-occupied homes in below average school districts. If you're looking to Cashflow, that's one of the neighborhood classes to go to. I'd go after it if I'm looking to rent properties out. However, how sure are you that it's a C and not a D area?
Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
3y
Do you have a property manager lined up? If not I suggest interviewing a few and getting their opinions on this house/neighborhood. Many won't manage properties like this - and there is a reason for it.