Mott Marvin Kornicki, Waterway Realtors, Notary Public 786-229-7999 (Waterway Realtors® • South East Florida • Real Estate Brokers)

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Rainmaker
3,272,491
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sometimes that's so and sometimes not. I don't believe you can generalize like that. I've seen "bad" locations that never seem to fully appreciate and buying in and investing money doesn't get a return.

Nov 02, 2019 05:41 AM
Rainmaker
2,502,912
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If one possesses the skills to venture into the world of your suggestion there be opportunity there guaranteed. I have long managed property in undesirable areas and it pays. As far as location premium goes, yes you will over-pay but right off the return on the quality of life is instant and then over time the return on investment is apparent...

Nov 02, 2019 05:35 AM
Rainmaker
5,176,052
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I like to sell in a good area but sell the worst home in the area not the most improved... 

 

Nov 02, 2019 06:06 AM
Rainmaker
766,975
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

That's correct for residential, and there are areas of LA that were 'ghetto' and now have been regentrified into the hippest communities.

That is NOT correct for many commercial properties. If you are gonna run a 'to the public' business, site is critical! And if a business can't thrive there, the income potential is very much limited. 

Even if it is industrial or manufacturing that is not a 'walk in business', location is still important, albeit for different reasons. 

So L3 IS a thing . . . but it depends on the 'who' and the 'why'!

Nov 02, 2019 06:26 AM
Rainmaker
3,472,699
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Real estate is local.  There is power when you master local.  

Nov 02, 2019 05:55 AM
Rainmaker
1,678,342
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Good luck with that Mott Marvin Kornicki although I can see it working well if you want to open up a crack house chain.

Nov 02, 2019 12:12 PM
Rainmaker
762,217
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

People need to buy where they can afford. Location is just one factor to consider.

Nov 02, 2019 06:13 AM
Rainmaker
1,572,714
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Yikes, not me. There are many areas going thru gentrification. The investor can use your insight as to where the next hot neighborhood will be.

Location is always important. Drilling it down by county, city, neighborhood, location in neighborhood. Then benefits from there.

An investor would be benfitted more by buying in San Francisco vs. Miami. I've never heard Miami being any kind of real estate hot spot.

Nov 02, 2019 06:09 AM
Rainmaker
1,275,452
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It's still about location, you're just aiming for a "redevelopment zone" versus a ritzy hood.

Nov 02, 2019 09:15 AM
Rainmaker
3,077,111
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The sad thing is i see over priced homes in all three areas, the good, the bad and the ugly

Nov 02, 2019 06:16 AM
Rainmaker
3,183,941
Richard Weeks
Dallas, TX
REALTOR®, Broker

In our market location is a big part of the home buying process.

Nov 02, 2019 05:48 AM
Rainmaker
651,631
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Location is still important in my area. We're not over developed. There's still plenty of land to build on. While the best locations are too expensive for some, it isn't for everyone. Having lived in Orlando I learned a lot about growth and watching where it is going. When we moved here we still had farms in town. I knew they'd go the way of development just like the orange groves did when I was a kid. Now, I think it is about knowing what is happening in the big picture. We're a big relocation area and will probably stay that way. Knowing where the jobs are is important. Knowing what future generations are doing is important. For example, baby boomers and many gen X wanted the big mcmansions. Millennials and Gen Z do not. The large homes are harder to sell right now. Baby boomers and millennials are buying similar sized homes in our areas. Schools are important in our area so buying an investment in a good rated school area will bring good tenants. As growth sprawls, schools that may not be top rated today, may be in 5 years. You have to keep in mind millennials are having less kids. Then again, Gen Z is supposed to be larger than the baby boomer generation. So, there is a lot that goes into the equation for our area. 

Nov 02, 2019 05:47 AM
Rainmaker
2,842,710
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Location is always a factor.  A LOT of research and analysis needs to go into your strategy.  

Nov 02, 2019 01:11 PM
Ambassador
4,441,732
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Location is only part of the formula, more important to buy the right property, buy it right, make the right improvements and either get it rented quickly or flipped quickly.

Nov 02, 2019 01:01 PM
Rainmaker
434,874
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

I agree that real estate talk is often about generalities. Actual buying and selling has to do with specific properties each with specific circumstances surrounding them. Location, is just another factor in the equation of determining what property is going to help the buyer reach their goals.

Nov 02, 2019 10:34 AM
Rainmaker
1,272,933
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Agree. 

Nov 02, 2019 06:58 AM
Rainmaker
1,228,116
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Most of my clients were buying or selling a primary residence or second home. Unless they were selling in a neighborhood as you described, they wanted to buy in the best neighborhood they could afford.

Nov 02, 2019 06:16 AM
Ambassador
3,502,178
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I would most trust Joe Pryor's opinion on this topic! 

However, I can tell you that here, the investors who lost the most when they sold during the recession, bought in those very areas you described as 'worst.'

Nov 02, 2019 06:30 PM
Rainmaker
729,323
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

You are still talking about "location"...just that the location has potential that has not yet been realized. 

Nov 02, 2019 01:48 PM
Rainmaker
853,400
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Location still tops the list here...everyone wants on the beach, whether it is direct ocean, riverfront or canal.

Nov 02, 2019 11:45 AM
Rainmaker
1,716,200
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Buy cheap - rent high.  
that would be an ideal investment. Area does not matter 

Nov 02, 2019 09:33 AM
Rainmaker
3,415,008
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Sometimes yes and sometimes no. Many areas of Chicago are to be avoided at the present time.

Nov 02, 2019 08:15 AM
Rainmaker
1,965,287
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

If you buy the entire neigborhood and pump it up, voila... great investment. Instead of the three L's though... it is timing, timing, timing. The property can be in a whiz bang location but if the buyer is not in a position to buy... that is not your buyer. Find people who are ready to pull the trigger to buy... that is a big chunk of the time we spend on the hunt in real estate follow up right Mott Marvin Kornicki ?

Nov 02, 2019 06:39 AM
Rainer
501,666
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

The best deals are in these undesirable neighborhoods. But why is that? Because the location is not good and may be harder to sell.  The money to be made is probably not as good.  I let the investor decide where to spend his money.

Nov 02, 2019 03:45 PM
Rainmaker
5,570,574
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Rules are not always reliable standards.

Nov 02, 2019 01:46 PM
Rainmaker
1,399,554
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

As with many things: It depends. 

There is upside potential everywhere. There are also various forms of risk, not all of them financial.

I would never invest or work in an area where I didn't feel safe now.  How could I properly maintain and manage a property I didn't feel safe going to?

Nov 02, 2019 07:17 AM
Rainmaker
4,632,784
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mott,

Those are good concepts, and there are no absolutes.  A

Nov 02, 2019 06:43 AM
Rainmaker
583,064
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I would want a good location to call home. Somebody else may want underdeveloped for their needs. Location is subjective.

Nov 02, 2019 08:42 PM
Rainmaker
4,202,535
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I agree, never had anyone ASK to live on a busy highway!  

Nov 09, 2019 11:21 AM
Rainmaker
3,278,492
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

There are always places that are going on sale that have great location, you just need to work it right.

 

Nov 04, 2019 08:53 AM
Rainmaker
463,881
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

It seems these days granite counter tops are more important than location.

Nov 03, 2019 04:27 AM