Older property surrounded by newer developements

[Naz Hossain]

Hi BP!

I have an opportunity to purchase a Tri plex in a really good neighborhood/nicer part of town. This Tri was built in 1946 and it is surrounded by new developments. My question is, does that pose a risk for me in any way? Be it getting tenants or having to make way for further new developments? This will be my first deal if I go through with it.

[Tim Herman]

@Naz Hossain this is not the property for you. Doesn't meet the 1% rule. gross rents divided by .01= maximum property price. $2450/.01= $245000 property price.