Investing in Durham, NC
I just purchased my first property (SFH, house hacking) in Durham, NC and looking to pick up another single family or duplex in the next 6 to 12 months. For those who are familiar with this part of the Carolinas, what do you feel about investing in South Durham, specifically around NC Central U? A lot of the neighborhoods are pretty rough but I feel like it's inevitably going to become more developed in the coming years. Part of me really wants to get into this market now while the getting is good, but I am concered about the quality of tenants and high crime. Is it wise to invest in an area like this if it's in the "Path of Progress"?
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@Account Closed
I have to agree with everyone sentiment regarding the area.
Defiantly a riskier place to be starting out your REI journey.
The progress in south Durham has been slow and the data backs that up.
To aid you in locating a place to begin your search in Durham as well as to help identify the path of progress, I have include a link to a gif showing how various location in Durham have improved/worsened since 2010.
The colors correspond to an areas location grade (on an A to F scale), which is simply a score calculated by looking a eight different risk indicators and comparing them against the averages in the area.
Areas that have improved one or two grades in a relatively short time will signify dramatic improvements and help predict the path of progress.
Hope this helps!