Got a lead for a property, but it's in a war zone...
I got a call from a lady with a four family, but it's in a neighborhood where one house can be $300,000 and another can be $40,000, it's close to Over The Rhine, which is a pretty scary part of the city. It's in Cincinnati. I haven't called back yet, so all I know is that it's a 4 family, with off street parking. Not even sure if the numbers will be good, but this is my first call I've received from my "We Buy Houses" ads, and I'm nervous! I'm unsure if I should even do the deal if the numbers are good, because of the location of the house. If I decide not to, how do I tell the seller that their deal just won't work for me? Is there any other option I could recommend to them, maybe to a Realtor?
Most Popular Reply
Just because the numbers work doesn't mean it's a good deal if it's in a war zone. There are other things to consider when the location is less than ideal. Do a search in the forums. I know many an investor that pass on homes in these areas including myself. Don;t try to make a deal just because you are ready and you want a deal. I'm about to close on my first property and took over 3 months to get here. It'll happen. Wait for the right deal.