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Updated over 11 years ago, 07/17/2013
Should I deal or run for safer turf???
So I have been looking for deals. I found one that makes money, but the homes aren't in a good area. A guy is selling 5 single family homes, for $115,000. The rents total at $3100/mo. Properties would all be 10-15% below assessed value. He is willing to do seller financing, but the homes are in an area of town that I would only go to from about 8am to 12 pm, and crime rates are a little higher then average but not the worst part of town. The owner has owned them for about 20 years and has done some upgrades, he says he is just ready to get out of single family homes, to focus on his multifamily properties. What do you think??