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Updated over 8 years ago on . Most recent reply

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Wendy Black
  • Investor
  • Phoenix, AZ
122
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230
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Broker Price Opinion- Crime

Wendy Black
  • Investor
  • Phoenix, AZ
Posted

I'm interested in a note in an established, older inner city area in Ohio.  The area looks to be in good shape, the owners pay their bills on time, the property is not in need of repair, and the market is stable.  The vandalism risk is medium--which wouldn't necessarily be a turn-off--but the BPO says that in early January, there was an increase in criminal behavior, including 2 shoots, assaults, and thefts.  I don't know close to the property it was or how much of a factor it should be.  What do you think? The note is for  under $20k.

Thanks.

  • Wendy Black
  • Most Popular Reply

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    Bob Malecki#5 Tax Liens & Mortgage Notes Contributor
    • Investor
    • Kingston, WA
    1,451
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    Bob Malecki#5 Tax Liens & Mortgage Notes Contributor
    • Investor
    • Kingston, WA
    Replied

    Hi high crime areas, assuming the note is performing then the highest risk is if you ever have to foreclose and resell, the crime rate could affect value. Also, the vacancy issues that @Stefanie Willie-Bonglo could put a dent in your profits should you have to do a lot of repairs. 

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