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Updated over 6 years ago on . Most recent reply

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Thomas W.
  • Rental Property Investor
  • Chicago, IL
13
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How far from a city are you willing to go?

Thomas W.
  • Rental Property Investor
  • Chicago, IL
Posted

I'm looking at investing in buy and hold properties and obviously finding on in the heart of a city is going to be near impossible, but there are areas around the city that are less expensive, less property taxes, better rent ratio, etc.

How far would you all advise someone goes away from a city until the properties start becoming so far away that they're not getting rented out and it effects your vacancy rate?

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Linda S.
  • Investor
  • Richmond, VA
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Linda S.
  • Investor
  • Richmond, VA
Replied

@Thomas W.,

I wouldn't buy more than 30 minutes away from large employers.   Think quality of life for a tenant.   People want to be close to where they work!   That will be a hard sell to renters, and the further away it is from jobs, the cheaper it needs to be to reflect the less desired/far away location.

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