Are you still buying property in urban locations?

[Paul Lee]

Given the growing population shift to suburban America fueled by coronavirus, work-from-home, and other factors, I'm curious how this may (or may not) have impacted your views on urban rental properties. Obviously, if you price your rentals below whatever market is, you're going to have renters...but with that considered, would you still think buying a rental property near downtown is still a good purchase?

I am in the process of buying a triplex located in my downtown area with the intention of house hacking, but I am having second thoughts given the current environment. Any thoughts or insights would be much appreciated. Thanks!

[Jeremy Blevins]

Hey Paul,

If you didn't purchase the tri plex where would you live? If you can offset your mortgage with the rental income then you most likely will be saving yourself money. If its a location you want to live in and your able to do so cheaper than if you rented or bought a condo than this is a win win. Plus you're getting an asset, so long as the numbers are right, and setting yourself up for the future. I know a lot of people are talking about large numbers moving from these urban areas but I don't foresee landlords having issues renting their places out.. there are always going to be people that want to live in that kind of environment and as some people move out of the city I think others will move in. Also CO seems to be one of the places people are heading to from CA and other cities. Good luck!