We have had a lot of success BRRR-ing in C-Class neighborhoods, it's a bit more work, but we've been able to pick up some really great deals, renovate them, and then find great tenants as our properties really are the only diamonds in these lower-income areas so there is always tons of interest and we are able to sort through and select top tier renters.
The strategy is working, but one of the biggest struggle we face is making sure our tenants feel safe in these rougher neighborhoods. We recently had a break in (into a vacant property), but all of our tools were stolen. It was a big lesson-learned, but it's making us consider security options at all our properties. We just are looking for the most cost-effective tips and tricks as I don't want a large monthly bill at each property cutting into the cashflow.
Oh, and we are in Edmonton, AB, Canada... SimpliSafe isn't an option unfortunately.
Thanks in advance for the suggestions!
I would be careful with Vivint or similar companies. They will either charge you up front for the equipment or they will ask you to pay monthly for it under a five year contract. They've been known to "forget to mention" the five year contract part. Then when you move out later you will have to pay out the rest of the contract, which for me last month was $1600 AND the system stayed at the house because they wouldn't send a tech to remove it for me. There were a lot of similar stories in my city, which I found out about after I brought it up post move. I also wasn't happy with the service overall but that's another story. This was the worst purchase I have made to date for a home hands down.
Going forward I'm going to try a diy system instead. There is no need to pay thousands on a monitored system like that. 95% of the time all you get is some fuzzy video of a guy with a hoody on that's impossible to identify anyway. If you get lucky he'll have a tat or something unique visible on camera. But you can get that from a simple $50 IP camera sitting in your window facing outside. Police response time will be long after the thieves are gone, they know the response times in the areas they operate in... Just my opinion.
If you are 100% certain you will be keeping it for the 5 years maybe it is worth looking into. But home security is blowing up and there are much cheaper options out there now with NO contracts.
I hope you find a good one!