Woodland Terrace a good investment? (real estate, for sale, condos)

[gamecocklake]

I have been looking around and found a triplex for sale in Woodland Terrace. The (GRM) Gross Profit Multiplier is pretty solid, which means that I would be getting a great cash flow compared to the sales price of the place. The sales price is also pretty amazing.
But I am questionable on whether the cash flow i would receive is worth buying into Woodland Terrace. From what I have seen, Woodland Terrace is kind of run down, old, and not a popular place people would want to rent. Would it be difficult to keep the place rented? Are all these places in WT section 8 housing? For cash flow this seems like a great buy, but is this a mistake in for the long run? I already know that Cantey and Company owns one of these places.

[Woodlands]

IMHO, I think that Woodlands Terrance is a good long term investement. In fact, I looked into the possiblity of purchasing there myself. Granted the units may be run down but the location is key. It is near downtown, Midlands Tech. USC/Five Points its within walking distance of shopping and along transit. The overall surrounding neighborhood is also good as well... I believe the schools are Hand/Dreher Zoned. I think in the "next" real estate boom some deep pocket developer may try and assemble that entire complex, raze them and place condos or townhomes there because of the location. You already have that happening just west of there in Rosewood with condo/infill development in addition to the redevelopment of Hendley Homes. As downtown real estate becomes more pricey and as Innovista takes off, people will be looking for more intown housing in these areas.. In the mean time you should be able to rent it.

[Brandon Hoffman]

I think keeping renters there won't be a problem but keeping good renters there will be. I think you can probably get a Section 8 in there and they at least pay.