All Forum Posts by: Maurice Ilao

@Brent Seehusen You made very good points.  I'll have to consider those factors as well.

@Randy E. I know some buddies in law enforcement that told me that town has a very high crime rate but depending on where its located, it can be very close to a very upscale neighborhood as well.  And I agree about the comfort level i would walk around in. Honestly I have walked around the toughest parts of Brooklyn and East Harlem and it never really bothered me. Maybe a little bit after dusk though. lol

@Craig Wilcox Thanks for the link. Very helpful. I guess I'll consider a class"C" after I build a strong foundation. My search for my first property continues.

Also how can I verify if each unit is really renting for 1500? In that particular area I would think that it is way too high and is close to what i would pay in my area. One time I saw a listing stating a rental income of "X" amount and when i saw the place, there were conflicting prices when speaking to the current tenant.  

Thank you @Dmitriy Fomichenko

@Rod Desinord Hey Rod, its hard to looked passed some of the places i seen. I saw a muti family house (4- 2 bed, 1 bath) for around 310k and is currently being rented for 1500 a unit, equalling 6k. Not very familiar with the formulas covered in other discussions and podcast but at a quick glance the numbers seem to have a positive cash flow. Since I have no real experience, I can't say for sure if this place would be a good investment or not.

@Nick Harrington thanks for the response. When i say "doesn't make sense" i mean that many place are listed at high prices and even higher taxes. The average rental income barely covers the mortgage. From what Ive read, I should also consider vacancy, repairs and property management. Many properties that I've seen have a negative cash flow if I were to include those expenses. 

Hey everyone,

I am obviously new here with my whopping  3 post in these forums but was wondering if buying in high crime/low income areas is normal for rental properties. I live in NY and these areas seem to be the only places that make any sense to make a profit. I would love to buy in a nice area where i can possibly live in one day but the math doesn't make sense.  

Wow! That's amazing! Looks like your hard work and dedication is paying off. I might be asking you for advice. I hate feeling like newbie. lol

Thanks for the advice and links everyone. Wish me luck.