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Updated about 7 years ago,
Buy/hold in crummier/higher crime areas
Hi guys/gals,
I am new in terms of posting to the website, but I have been listening to the podcast for a while and I've been doing my education and research. My wife and I are both medical professionals and we make a decent income but we would really like to get into real estate investing within the next couple years, primarily buy and hold multi family properties. We live in eastern Massachusetts and the pricing for multifamily homes or single-family homes are pretty high in comparison to the rental income except in some of the more urban and higher crime areas.
My question is I'd like to get some opinions on whether it's a good idea or not to invest in rental properties that on Trulia for example are in the yellow for crime. I'm also not quite sure if the property values in the higher crime areas will rise at the same level as the surrounding towns.
In these areas the numbers do you work and some are around the 2% rule, just estimating...
Looking forward to hearing your thoughts !
Erik