NEVER Buy These Rental Properties (YOU WILL LOSE MONEY $$$)

[@Evernest1]

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[@MarkSenatori]

All very good advice. I'm learning some of this the hard way. Bought a house that I'm now living in because I couldn't rent it for what I wanted. Mainly the part of the street where the house is, is bad, but broader neighborhood is nice and great proximity downtown. My mistake is I took the advice, "don't buy a rental in a place you wouldn't live in yourself" I was single at the time and I can live just about anywhere. The question I should have asked is "would your mother or future wife be happy renting it" Thats a much clearer no 🤷‍♂️

[@DPitt-ty4sd]

I agree, CA is not as landlord friendly, but you get way more rent than most states.

[@Evernest1]

You're right about that! However, the downside is that higher rent usually comes with a higher purchase price, making it much harder to scale a rental portfolio compared to markets in the southeast where home prices are less expensive, such as Birmingham, AL

[@Mrmajellan123]

That's if they choose to pay

[@DPitt-ty4sd]

@@Mrmajellan123 True!

[@brucema38]

Overall, I avoid problem areas and problem properties. However, sometimes problem properties are almost given away. I'll take those. Price is everything. Like cars, shity cars make money as do nice cars. Depends how you buy them.

[@Evernest1]

I think buying problem properties in certain areas should be left to people with a good amount of experience. I've not seen many rookies doing this and winning!