Hartford Apartment Buildings, someone is making money?
Looking down the road, I can see a path for me towards buying apartment buildings. I hear everyone saying to stay away from lower income areas because of the headaches. However, I see 6 and 12 unit apartment buildings for sale in Hartford, NB, etc. Someone must be buying these properties and I would imagine it must be profitable for them otherwise they wouldn't buy them. With that said, if a management company is hired to do all the "dirty work", does the advice of staying out of low income areas still apply? I agree that in Hartford, as with any town, that there are better sections than others, but it seems to me that if you want to explore the possibility of owning more than 4 or 5 unit buildings you need to be open to looking in cities like Hartford, Waterbury, New Britain. What are your thoughts?