There is an engineering rule (the project management triangle) that when you design something the best you can hope for is getting any two of the following: cheap, fast, good. You can apply this same logic to other things - "you can have work, sleep or play - pick two." (I seem to be giving up on the sleep part of this equation right now.)
It seems investment rental properties have their version of this rule: good neighborhood, good building, good rate of return on your investment - pick any two. If an investor only wants to own a building in good shape in a good neighborhood, then the rate of return is not going to be good. Good neighborhood, good rate of return - means the building will be decrepit, and so on.
So why of why can't investors grasp that I will not be able to find that beautiful duplex with 3/2 units and granite countertops in the best part of town - at a price that makes economic sense?
Still trying to sell the idea that a good building with a good rate of return in an OK neighborhood that is progressing upwards is a pretty good deal.
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