All Forum Posts by: Adam Pridmore

@Joseph Cacciapaglia

The problem is this IS a hot area that is just now being tapped into. Driving through the area you can see that many houses are already renovated and sold/occupied, and many more are under rehab at this time. The area is definitely improving, but Zillow shows lots of rentals still on the market.

In fact most other areas that I’ve looked at in this same price range seem to have the same problem - lots of vacant rentals... I’m starting to second guess myself simply from the information I am finding on Zillow...

I am currently shopping for my second rental property in an area that is undergoing revitalization and should offer nice capital appreciation down the road.

The problem I am running into is this area already has a crowded rental market, including many section 8 properties. If information I find on Zillow is accurate then it appears many of these properties are staying vacant for many months at a time (perhaps these are the properties that are not listed as section 8?) The mortgage on this particular property would be one that I could handle paying out of pocket for months at a time, but I don’t know if it’s going to be worth battling constantly as I hold out for long term appreciation.

Each area that I look at with properties in the price range that I am shopping seem to have this same issue... I am becoming rather frustrated and am looking for insight from the community.

Thanks in advance for any feedback you all can provide.

I realize how dated OP's question is, but thought I'd share my experience with Watts... I used their firm to manage a home I owned & rented out in Moody 7-8 years ago. They managed the property for a total of 2 years - I initially had an awful experience with the original property manager that handled my account, but I've been told that person is no longer employed with Watts. David Watts took over my account once the original agent failed, and he was EXCELLENT & a pleasure to work with - David is very professional & detail oriented & I would recommend him to anyone.