Posted by Nate on March 13, 2001 at 22:52:17:
Unless you are going to live there (which you are not, since it’s an investment property), it does not matter whether YOU would want to live there. What matters is, can you find tenants that will meet your qualifications, and will pay the rent on time, that want to live in the neighborhood and can afford the rent you plan to charge. If you don’t know, ask around. You should be able to figure out what are desirable rental areas and what aren’t. Lots of older blue-collar quasi-suburban areas are highly desirable rental areas because they are better than the inner city.
It sounds to me like you’re not too comfortable with your knowledge of the local market. My advice is, get out in the streets and talk to people who ARE knowledgable, and thereby learn what you need to learn.