South Bend is a relatively small city and I'm wondering how competitive it is there for investors. Any guesses or actual stats?
Here is a good summary of the typical cash flow property that most Investors go for in South Bend and Mishawaka that I posted in a thread about 6 months ago.
Note: I specifically pointed out cash-flow not appreciation.
There is room for more Investors in this category (C-/C/C+). You just have to be a cash buyer and be able to move fast. You also need a good, strong reliable Property Manager to handle the tenant pool in this category.
You can upgrade to B- and/or B areas but the property taxes kill the cash flow and double digit returns however you will get more stability and modest appreciation.
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