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!