Investor · Plainville, CT · Member since 2015 · 4 posts · 0 votes
Hi everyone here on Biggerpockets glad to be on here sharing. For anyone who has experienced or known anyone who's been through this feel free to give your input. I happen to live in a very diverse area where there is really nice towns with expensive homes and then the next town over is the opposite where it's populated and lower end housing. My question is has anyone actually purchased properties In these areas either 3-6 unit apartment buildings and made money? In addition would you continue to buy more due to a high level of population
I buy houses and small multi-family properties in what would probably be considered C class areas. But I am doing it in a community of about 100,000 people. So the "rough" areas of this little city are nothing like some of the neighborhoods in the big cities where you would be afraid to walk around at night. We are making money and continuing to acquire properties. As a grow we will probably diversify into some nicer areas as well.
As you probably know, you can usually purchase houses for a lot less in C class areas. So there is potential for cash flow. But you probably need to account for extra maintenance and vacancy expenses. You will also need to be prepared to put a lot of time into management or finding a property manager who has some experience managing in these areas.
There are many investors on Bigger Pockets who invest in these areas. Up in the right-hand corner, search "low-income rentals" and see what comes up. Also read the Bigger Pockets Ultimate Beginners Guide to Real Estate Investing.
Thanks for the response mike and info. Yah I'll deff check that out, most of the properties around the area are usually brick which is nice but mostly would need to deal with vacancy issues thanks again.