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Old 09-07-2009, 03:23 PM
 
27 posts, read 47,862 times
Reputation: 12

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Hi,

Should i really pay attention to the price per a sqft when looking to purchase an investment property?

I notice that in so so area the price per a sqft is going down opposed to good areas. my simple logic tells me that i will benefit more in the future if the house will be located in a good area. I may be able to get more in rent but not more as an investment?

My logic tells me that the location will always be the # 1 priority, although you get less for your money.


Is that correct?

Any advice would be greatly appreciated,
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Old 09-07-2009, 06:15 PM
 
9,849 posts, read 7,974,758 times
Reputation: 3296
Beauty is in the eye of the beholder, or stupid is as stupid does.

I don't think there is a black and while answer to most questions like this, just don't buy in some gang infested area.
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Old 09-07-2009, 06:18 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 36,588,832 times
Reputation: 2661
Quote:
Originally Posted by Ron_in_the_House View Post
Hi,

Should i really pay attention to the price per a sqft when looking to purchase an investment property?

I notice that in so so area the price per a sqft is going down opposed to good areas. my simple logic tells me that i will benefit more in the future if the house will be located in a good area. I may be able to get more in rent but not more as an investment?

My logic tells me that the location will always be the # 1 priority, although you get less for your money.


Is that correct?

Any advice would be greatly appreciated,
No it is not. Various places were hit far harder by the foreclosure mess than others. That drove their price way down compared to where it should have been.

Basically many places first sold in 2004/5/6/7 are sold very far from where they will end up when things settle.

As a general rule the return on properties in non impacted neighborhoods is much less than impacted neighborhoods and the likely appreciation is far greater in impacted than in non-impacted nieghborhoods.

You task as an investor is to take advantage of all this. Leave which is the better neighborhood to those who live here.
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Old 09-07-2009, 06:49 PM
 
4,515 posts, read 10,102,076 times
Reputation: 3970
Quote:
Originally Posted by olecapt View Post
No it is not. Various places were hit far harder by the foreclosure mess than others. That drove their price way down compared to where it should have been.

Basically many places first sold in 2004/5/6/7 are sold very far from where they will end up when things settle.

As a general rule the return on properties in non impacted neighborhoods is much less than impacted neighborhoods and the likely appreciation is far greater in impacted than in non-impacted nieghborhoods.

You task as an investor is to take advantage of all this. Leave which is the better neighborhood to those who live here.
Wow! I agree with you. People make fun of me for saying this, but its absolutely dead on.
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