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Updated over 6 years ago on . Most recent reply

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Mary Jay
  • Glendale, AZ
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What is your tolerance for bad or below average areas?

Mary Jay
  • Glendale, AZ
Posted

Do you guys only buy in good areas?

Does anybody buy in bad areas or below average areas?

For instance, property is close to "druggies " area....

An appraiser came to a unit and there is a passed out tenant on the couch. 

Would you buy the property?

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Marcus Auerbach
#2 Buying & Selling Real Estate Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
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Marcus Auerbach
#2 Buying & Selling Real Estate Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

Hell no. 

A lot of people will disagree with me, but once you understand the full financial picture over the life cycle of the investment including capex you will understand why some call it fools gold. That does not even consider what this will do to your life. Working currently with a client who went down that path a few years ago and is now desperatly looking for a way out and trying to sell the vacant properties without loosing his shirt.

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