Hey I been coming across houses that look like deals but are really not. What should I watch out for and what are good things to look for before purchasing a property. I know in some communities, "schools" may be a driving factor and the supply and demand of property values will go up. Lakes might be a good thing, but you might have high insurance that would kills cash flow. I know people like to live close to freeways, downtown, hospitals etc and other fancy communities. crime rate will lower value of the property. The best way I found out is to call realtors in that area who are selling to find out why houses are selling higher because every community has their own personality.
So the overall question is what can make an area more desirable?
what should I watch out for?
http://houston.craigslist.org/reb/4907129706.html example this one has a nice spread I think houses are being sold for 200k, the listing price is 125k.
Look for "new Money" people and jobs bringing money into the area. I look for areas with increasing population, more than one stable employment base, look at the census demographics and see if who lives there fits with who you want to be landlord to...also, things like "best place to live, best place to retire, best ...." are a good start. Good Luck, Always enjoy today,
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