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Updated about 8 years ago on . Most recent reply
How do I know if a city is worth investing in?
I have been looking around my area and there is one market in specific that sparks this question for me. The city's name is Conneaut and it is located in the the northeastern corner of Ohio right by the PA border. It used to be a booming town because it is located right on Lake Erie and the harbor used to be a lot more active than it currently is. Prices in this town could be described as "Detroit Like" (without the crime rate). Getting a 2000+ sq. ft. house in decent shape for around 30k is tempting as a new investor. I need to know what type of things I should be looking at in the city as a whole to get a good idea of whether or not it will be a good long term investment such as buy and hold. Any help is good help! Thanks guys!
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#2 New Member Introductions Contributor
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- Rockland, MA
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#2 New Member Introductions Contributor
- Specialist
- Rockland, MA
To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask for market occupancy and rents. Ask if they know anything coming up for sale.
You can also search narpm.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.
Paul