Real Estate
Sponsored by

What do you experienced investor's think?

1,429 Views | 7 Replies | Last: 5 yr ago by HalifaxAg
HalifaxAg
How long do you want to ignore this user?
AG
I am a newbie at this so please bear with me.

I am considering purchasing an investment property in the B/CS area to hold and lease. As part of my decision making process, I looked up all the assessments for that street. The property that I am interested in is assessed significantly higher than all of the other neighboring properties...in fact almost double the neighboring properties.

There's an old saying about never buying the most expensive house on the street...should I be worried?

Somethings to consider:

There is no re-gentrification taking place in this area.
The demographic appears to be about 50% student.


I'm mostly concerned about that difference in appraisal values. I would of course attempt to argue the taxes down if I were to purchase it.
SteveBott
How long do you want to ignore this user?
AG
I'm lost. You have posted no real info. B/CS is a complicated investment property market. What's the address or least area? What are your basic fundamental number? Say

Price
PITI
Rent
Rooms

I could go on but if you want numbers we need numbers
gig em 02
How long do you want to ignore this user?
Do the numbers work as a rental? Seems like focusing on the tax appraisal value is an interesting choice.
jmazz
How long do you want to ignore this user?
AG
Tax assessed value is mostly worthless. Sounds to me like the owner of the subject property might need to contest their tax value. (Unless it's a diamond in the rough or something.) If you'd like a more formal valuation (comparative market analysis) let me know. I'd be happy to pull MLS comps.
HalifaxAg
How long do you want to ignore this user?
AG
Sorry to be so cryptic, I know I didn't post much. The cash flow is good, the ROI is good...I was just wondering about that assessed value relative to the neighborhood but it sounds like no one really objected to it or thought it was a big deterrent or factor.
D713
How long do you want to ignore this user?
Curious how the cash flow is good priced 2x the rest of the block in a neighborhood that is not gentrifying. From my perspective the don't own the most expensive house on the block adage isn't always applicable for buy-and-hold properties, but you need to provide more info for anyone to give you a serious answer.
AggiePlaya
How long do you want to ignore this user?
AG
Rental market is saturated now and you would be buying the most expensive house in the neighborhood = bad idea (my opinion)
94chem
How long do you want to ignore this user?
I think OP should study the proper use of the apostrophe.
HalifaxAg
How long do you want to ignore this user?
AG
...and the OP would like the opportunity to criticize you in public as well.

Remember what it means to be an Aggie or did you forget that?
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.