School Rating Websites: Rating for Flips and /or Rental

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School Rating Websites: Rating for Flips and /or Rental

Ray P.
VA · Member since 2015 · 24 posts · 0 votes

What if the house looks like a good deal but the school rating is low, I mean very low? 

Are the school rating standards different for a flip and a rental?

What if you set a standard and the rating is below the standard, but looks like a good deal? Do you pass on the house.

What school rating website do you use?

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  • Mike Makkar
    Investor · Plano, TX · Member since 2014 · 188 posts · 149 votes
    10y

    @Ray P., I wouldn't rely on school rating unless you want to live in the house or banking on longer-term appreciation and a flip there-on. Flips are more school dependent. And in my experience, in a good-market, good deals are harder to find in good schools/neighborhoods.

    I assume, you applied the fundamentals. For flips, Purchase properties at 70% of ARV (minus) repairs. and for rentals, purchase at 50x to 60x of monthly rent amount, criteria?

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  • Ray P.
    OP
    VA · Member since 2015 · 24 posts · 0 votes
    10y

    Thanks for the great advise. I am using the 70% rule. 

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  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    10y

    Families with children do rely on those web sites. Better schools attract a larger rental/purchase pool. 

    My children's school had a bit of a controversy at the end of last year, and our rating took a huge dip - apparently anyone can rate a school, and people from around the world have been giving it one star reviews without knowing the whole story. It is what it is, but attendance has been affected.

    [email protected]Podcast Guest on Show #261
    BiggerPockets
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  • Ray P.
    OP
    VA · Member since 2015 · 24 posts · 0 votes
    10y

    Sorry to hear that about your child's school. 

    Your statements helps, because some of the ratings can be unreliable. I'll really need to use other resources. 

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