is this worthwhile?
Hello!
I am seeking advice from the professionals on this forum. I am currently looking at a property that is listed for 12k. It is in a slum area and probably will not increase in value.
I will pay cash for this property and I can and will make money on this property if I purchase it and rent it. However, the location of the property is terrible and therefore, the overall value is not really going up. Is this property still worthwhile? Is it better to pay more money for a home in a nicer area so I can gain more equity and rent?
Please advise.