All Forum Posts by: Gary Layden

Thanks for your response Junior. I will be managing the property myself. I see the $145000 property gaining more value in the future. I don't see the bad neighborhood turning around anytime soon...

Hello Everyone! I'm Gary from Erie, PA. This is my first post here. I'm new to the real estate game and I am now looking into purchasing my first rental property. 

I am currently looking into 2 different 4 unit rental properties and need some guidance on which way to go. The first one is $45000 and brings in $1600/ month. Can almost pay all cash, bad neighborhood (crime), low property value and needs some maintenance. The other is listed at $145000 and brings in $2500/ month. Need loan, nice area and is updated nicely.

I'll get a better return on my money for the cheaper property, but is it worth the headache of bad location?

Thanks,

Gary