All Forum Posts by: Brody Newcomb

A new apartment complex is being built in my area a few miles down the street from my current duplex. I like the area and was considering my buying another this year but am wondering how a new complex will affect my properties. I would love to believe it will increase rent because it will be luxury apartments but the additional units make me think it could reduce the demand therefore lowering rent. Lmk if anyone has experienced this or is currently in the tremont Ohio area as well.

@Brody Newcomb update: offered 24k over asking and still didn’t get it. Back to the search

I’m in the process of buying my second property and I had always planned on buying properties under market value to increase the possible return on investment. I’ve come across a duplex for $140k that was fully renovated that I believe could be rented out for $1800 (900x2) on the low end possibly 2100 on the high end. There isn’t much room to fix up and increase the equity on this property but the price seems to be at a good place to get some cash flow. Is it okay to sometimes buy a property at market value and assume the only way it’ll be worth more is from possible appreciation?  Thanks for any thoughts you have.