Normally you need to find a bread and butter B class neighborhood to make money in real estate.

@Nicholas Foy average sales price in The Eye was $87,944 in 2023.We consider it a Class C- Nieghborhood.So, tenants will probably have FICO scores under 580.Means you may want to use a Vacancy/Tenant nonPerformance factor of 20%+ in your metricsYou'll also need a real good team on the ground to minimize losses.

Those areas have higher rents, lower vacancy and higher appreciation.If you manage class A or B assets it’s not awful as most tenants are not professional tenants trying to live rent free for years.

I would suggest starting in areas like Merion/Hungarian for value-add opportunities, South Linden for fixer-uppers, and Whitehall - improving market.

Nathan,Thanks for the response and support.Of all the categories of businesses, REIs with due diligence and real estate agents with ethics classes are the least likely to pull this stuff.My nephew in 19-County says, "Hay" I mean "Hey"We publish a weekly blog on the company BP site, Utah Real Estate Accountants.Janet

Additionally, it can help maximize renovations and improvements.38.36% of the total depreciable basis was classified as 5-year class life.

Quote from @Gia Pirelli: I also took her class.

@Daniel Curtin the area is a solid C class area.

@Craig Bowman Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Hi BP Community,Does anyone have any experience with buying or selling a NYC class B SRO building in NYC and SRO conversion?