Paying market value for real estate
is it worth buying property if not getting it at discounted value? I have a non real estate career to focus on and have neither the time nor desire to hunt for deals, buy foreclosures, do repairs etc.
I am also not comfortable buying in crappy areas near horrible schools just because the math says it cash flows. Seems strange to me. I would rather buy beautiful, renovated properties in good areas near the best schools with great tenants. I know we all say we can't bank on appreciation, but come on... Over a 30 year period buying great properties in great neighborhoods near great schools, you really think there won't be significant appreciation over that time?
I never hear anyone proudly talk about buying great properties at full market value. Is this the wrong way to go about real estate? Or is buying a 50k house and renting it out for 1000 per month in the mid. West the safest thing to do?