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Updated about 4 years ago on . Most recent reply
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Nightmare neighbors at a rental
I am looking to purchase a rental property. I found a pretty good deal and would like to move on it, but i am concerned about the neighbors. On one side it appears the neighbor is running an automobile shop with a large ugly exhaust from a wood burning stove, and the other side seems to be either a hoarder or collects old lawnmowers and such. I am wondering if that would make it nearly impossible to move in a good renter and thus should deter me from buying this house? Any feedback is greatly appreciated! Thank you!
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Location will definitely dictate how desirable your rental will be. Is this a common sight in your area? How easy is it for someone to find a house just like yours that doesn't have neighbors like this? Analyzing the market compared to what this house offers will tell you what kind of rents, and tenants, you are likely to get. The hesitation in your post and the way that you describe the neighbors tell me that this is an uncommon environment in your area. Don't fall in love with a deal and overlook something that is obviously making you pause. Ultimately it is all about the market and how well this house conforms to it. I live in a rural area and this would not phase many of the tenants that I have, but it probably would also not be my highest grossing property.