Hello everyone. Im from NY and new too all of this. I have been analyzing properties for a few weeks now and feel like NY is too expensive for me at the moment so I’ve moved my search to NJ/PA. Now im finding deals that seem too good to be true. Some houses are run down or show that theyve been sold recently for half the price they are listed at right now (and are still reasonably priced). The numbers seem close enough for me to put in an offer or some prices seem too good to be true. Im scared im going to buy a property and ill be stuck with something odd (like the house was built on ancient burial grounds lol) and the town wont let me fix it up or rent it out. Any help or insight is greatly appreciated. Thanks
They seem to good to be true because you are comparing them to what you were seeing in NY. You need to recalibrate for each market, what is fantastic in one is average in another. Also if you have good boots on the ground they will help you identify issues such as blighted neighborhoods, mold, structural problems etc.