Commercial rental in not the best area

Rental Property Investor · Member since 2019 · 3 posts · 0 votes

Would you purchase a property in an area you are not 100% comfortable in, simply because it was a good price? Or stay away? Thanks in advance for your input. Newbie Alert

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Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
6y
Impossible to add any clarity without more detail.
You could be buying a 10 million property and net worth is 8 million and maxing out a purchase which could have a higher overall risk factor versus someone with a 50 million net worth and a balanced portfolio.
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Rachael Agruso
CT · Member since 2016 · 50 posts · 37 votes
6y
@Daniel Alter I think this question depends a lot on each person's different strategy when it comes to real estate. When I think about my market and areas that I am not comfortable with, I just stay away all together. I generally look for buy and holds and, I personally do not want the added headaches that come along with investing in these certain areas.
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Ronald RohdePro Member
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
6y
Originally posted by @Daniel Alter:
Would you purchase a property in an area you are not 100% comfortable in, simply because it was a good price? Or stay away? Thanks in advance for your input. Newbie Alert

you'll never be 100% comfortable, decide whether you need to be 90% confident and go from there.
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Will B.
Southeast · Member since 2019 · 23 posts · 4 votes
6y
How are you determining a "good price"(value)?
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