Investor · Franklin, TN · Member since 2017 · 112 posts · 77 votes
7y
Interesting question I have also struggled with when looking for properties to flip. I have stayed away from properties on active railroad tracks, or a cemetery, or other a lake house with 150 stairs to get to the water, or other items that will make a segment of the market say "no, thanks" as soon as they walk up. It would seem you would at least need to factor some discount into your numbers to offset the risk.
I recognize this may be my own inexperience but I do try to avoid things that alienate a portion of my potential buyers. I could be missing out on the potential AirBnB haunted house market.
I think you're a genius...the stuff you're avoiding is the stuff that kills property appreciation. That "inexperience" is really good instincts. Rock on!
Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes
7y
When I was looking at lots to build a house on, I passed on a beautiful corner lot just because there was an old cemetery on the lot at the edge of the street. I had an old iron fence around it and I was told that relatives lived nearby and they came a few times a year and placed flowers on the graves and they weeded it. They had a gate entrance from the street. They had deeded access and maintenance.
Yeah, but I did not want that task when the relatives moved on...and I was concerned that no on would buy the house when I wanted to move on with that cemetery there.
Rental Property Investor · Fort Lauderdale, FL · Member since 2017 · 151 posts · 94 votes
6y
I wouldn’t think being near a cemetery is a deal breaker. What’s the worst that can happen you get a few mourners in the graveyard to morn their lost love ones? They would be a quiet neighbor, never get a noise complaint or the cops call on by them, I fail to see the issue.
Interesting question I have also struggled with when looking for properties to flip. I have stayed away from properties on active railroad tracks, or a cemetery, or other a lake house with 150 stairs to get to the water, or other items that will make a segment of the market say "no, thanks" as soon as they walk up. It would seem you would at least need to factor some discount into your numbers to offset the risk.
I recognize this may be my own inexperience but I do try to avoid things that alienate a portion of my potential buyers. I could be missing out on the potential AirBnB haunted house market.
Active railroad I can agree with, but a lake front property that is only 150 stairs away? People drive miles around to get to the waterfront a few steps isn't, at least for me,a deal breaker