Posted by Dave T on December 22, 1999 at 21:30:28:
A couple years ago, I looked at the DC market for possible investment. Perhaps my reasons for not investing are the same today for other investors in your area. My reasons for not investing in the DC city limits at that time were:
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Generally, I found prices too expensive to support positive cash flow for rental properties.
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The high crime rates were not enticing buyers into the city, thus I felt that any profit in a property I bought would be consumed by a long holding period before resale.
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I did not feel comfortable owning rental property in a tenant-favorable, rent-control environment.
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The city was on the verge of bankruptcy and I believed that the only immediate relief for the city’s budget problems would be a significant property tax hike.
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There were more profitable deals outside the beltway in areas without the concerns mentioned above.