Investing in a bad school district
I am currently looking to buy my first property and I made the decision to stay local to minimize my learning curve. I found a nice 2 bedroom 2 bathroom with great potential at $103,000 asking for an 8k down payment. The only problem I’m having is that the high school isn’t known to be good(2/10 on greatschools). My question is, does this matter? Buying my own home I always look at the quality of the schools in the area as an indication to be able to sell, but I’m not sure if as an investor this is something I should pay attention to? If not, what else should I be looking for?
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@Parker Doyle
Price, rent rates, vacancy rates, condition of property. Everybody needs a place to live. Just remember, the lower quality of the area does mean the higher headache (generally). But all classes of property can be profitable.
Any idea what the rents are for that property? Have you run a BP calculator to determine if it would cash flow? And why the $8k down payment. What’s that from? And I am guessing you cannot count on appreciation in that area.