@Ryan McCalla That's kind of a transitional area in my opinion - one I'd personally be leery of but others it may be in their wheel house. Just depends on what you want. From my recollection things can change from block to block there - If you want to avoid a bad situation drive around on a weekend in the afternoon - Sunday on a nice day - see if families are milling about or a bunch of WT dirtbags or drug addicts living in rentals the other landlords dont care about up and down the block.
Or go for a walk in the evenings with your dog and simply walk the sidewalks and take it all in. Will give you a good feel for the neighborhood before you buy a house. I want to like the energy of a place before I buy - but that's me personally. Low Income areas can be a close tight nit few blocks - or some can be total crapholes if the people holding the neighborhood together move away and it's solid rentals with landlords that don't care.
My former W2 job I was in virtually every neighborhood over the years at any time of day so got to know many places well in Wichita.
I haven't explored that particular block too much so who knows what you'll find in the immediate area. For that price range I could think of a few other areas of town that would be "family" friendly. For sure do your homework.
@Ryan McCalla to me it doesn’t look like a bad deal. My only concern would be the age of the property and the fact you only get two bedrooms for that price. 1921 was a long time ago. The area looks decent. A good rental for me is under 50k all-in in Wichita.
Thank you for your input. I am new to real estate investing and starting to learn as much as possible. What is some things you would recommended to grow my experience?
@Jonathan R. The owner says he has a new water heater and central heating and cooling unit installed within the last 2 years. I drove by the property and outside looks good most work would be laminate flooring, paint and basic cosmetic upgrades.
Thank you for your input. I am new to real estate investing and starting to learn as much as possible. What is some things you would recommended to grow my experience?
Listen to every podcast you can and honestly just jump in. No need to put real estate investing up on a big pedestal. I would recommend looking at the foundation of older homes or buy houses with crawl spaces or slabs instead. I like two bedroom houses, but for less than that one. I personally buy cheap homes in rough areas for less than 20k, though that isn’t for everyone. In nicer areas like the one you posted target a buy of a hair under or around 40k and you’ll be fine. Make friends with wholesalers. Check out Kansas Wholesale Houses on Facebook.
@Ryan McCalla That's kind of a transitional area in my opinion - one I'd personally be leery of but others it may be in their wheel house. Just depends on what you want. From my recollection things can change from block to block there - If you want to avoid a bad situation drive around on a weekend in the afternoon - Sunday on a nice day - see if families are milling about or a bunch of WT dirtbags or drug addicts living in rentals the other landlords dont care about up and down the block.
Or go for a walk in the evenings with your dog and simply walk the sidewalks and take it all in. Will give you a good feel for the neighborhood before you buy a house. I want to like the energy of a place before I buy - but that's me personally. Low Income areas can be a close tight nit few blocks - or some can be total crapholes if the people holding the neighborhood together move away and it's solid rentals with landlords that don't care.
My former W2 job I was in virtually every neighborhood over the years at any time of day so got to know many places well in Wichita.
I haven't explored that particular block too much so who knows what you'll find in the immediate area. For that price range I could think of a few other areas of town that would be "family" friendly. For sure do your homework.