Hot take: From my street, older rentals beat new condos for starting investors

I've been watching a lot of beginners in my city pour money into those flashy new apartment buildings going up downtown! Everyone seems to think they're a safe bet because they're modern and have amenities. But from what I've seen in my own neighborhood, the older duplexes and triplexes are where the real value is. I just helped a client buy a 1970s duplex that needed some love, and after basic updates, the rental income covers the mortgage with room to spare. Meanwhile, friends who bought into new developments are dealing with high fees and slow appreciation. For beginners, I think learning to spot potential in older properties teaches more about real investing than just buying new. It's not as glamorous, but it builds better habits!

3 comments

3 Comments

violal541d ago

Everyone forgets about tenant stability in older neighborhoods. Long-term renters mean less vacancy and fewer marketing headaches. That consistent occupancy is a beginner's best friend for building confidence.

ryanrodriguez1d ago

Spot this pattern in small businesses all the time. A barber shop with loyal clients doesn't chase new customers daily. That steady flow lets them build skills and trust. It's the backbone of lasting success, really. For renting, long-term tenants give you that same solid base. You stop fearing vacancies and start improving the property.

mila17615h ago

Keeping tenants for years can lock in below-market rent and make upgrades harder. I've seen landlords stuck with outdated units because good long-term renters resist change or raises. That steady flow becomes a barrier to growing the property's real value. Sometimes a little turnover allows for necessary resets.