Should I buy a great multi family near the homeless?

2 Replies

There is a multi family I’ve been watching for a while. It’s a great price, for a 4unit. In June it was listed for $299k and was just reposted today for $259k. The rent would pay above and beyond the mortgage and we’ve already been shown the house a few months ago and it is in great shape. I’m just worried because behind the house is an decline to a walking path, in between the walking path and the house there are homeless staying and most likely druggies. It’s a problem with the city that they have been dealing with ever since the rehab shut down a few months ago. Winter is coming and you can’t live outside in nh here so I’m thinking they will leave. What are your opinions? The numbers are in our favor and I don’t know if I should worry about the homeless.

@Brittany Fife

Brittany, I guess it would depend on how much profit you wants vs how much trouble you don't want.  If the goal is to one day sell it within 3 years....ask yourself; what investor would buy it in that area?  There is definitely income in all areas, good and bad, but the question is; how much is your "peace of mind" worth.  Just my humble opinion.

I wish you the best Brittany.