Hamilton investors..

[cailmoney]

I`ve been looking at buying property I found for what I think is a good price. But am not too sure of the area it`s in, considering I havent been to Hamilton much. The property is on a little street called Century st, which is a few blocks from the Hamilton General Hospital. Major streets in the area are Wentworth st and king st... Just wondering if anyone knows anything about this area? crime was and such. If I get the go ahead from you guys I`d love to go look at the property, just dont want to waste my time if it`s in a grimy neighborhood.

Thanks alot

 

[CamMcCarroll]

Its in a grimy neighbourhood.
Having seen these areas and learning from other investors I stay away from anything north of Main and east of Wellington.

 

[cailmoney]

Thanks for the response... I`ll throw this deal out the window lol

 

[brad]

Take a day and drive the city, you are wasting your time and going about it backwards. Why look for properties before you know what areas to focus on?

Brad

 

[kboughen]

QUOTE (cailmoney @ Sep 7 2009, 12:56 PM) But am not too sure of the area it`s in
I recommend (2) great resources, when deciding where to invest in Hamilton (or any other Top 10 Town);


1) The REIN Top 10 Report.

2) A Realtor that comes highly recommended from other investors investing in that area.

These two things saved me countless hours and lots of money.

 

[EdRenkema]

QUOTE (cailmoney @ Sep 7 2009, 10:56 AM) I`ve been looking at buying property I found for what I think is a good price. But am not too sure of the area it`s in, considering I havent been to Hamilton much. The property is on a little street called Century st, which is a few blocks from the Hamilton General Hospital. Major streets in the area are Wentworth st and king st... Just wondering if anyone knows anything about this area? crime was and such. If I get the go ahead from you guys I`d love to go look at the property, just dont want to waste my time if it`s in a grimy neighborhood.Thanks alot


I spent my teen years going to secondary school in Hamilton and even after I was introduced to REIN I swore I would never invest there because of the areas you are talking about, I now own 3 properties in Hamilton and counting.
Follow Kevin Boughen`s suggestions but I would add another, learn the basics of the REIN system. I`ll bet you`ve been reading this forum and figure Hamilton is a good investment town so you want to come in the back door, nothing wrong with that. The mistake you may be making is one many potential investors do and that is not studying the fundamentals. Studying the fundamentals is what changed my attitude about Hamilton but more importantly it gave me the tools I needed to properly analyze what is a good investment.
Price is only one factor in a long list of variables that make a potential good investment, but far and away the most critical variable is the 6 inches between you ears, train your mind to look for areas and properties that fit into a system.

 

[Anonymous]

QUOTE (cailmoney @ Sep 7 2009, 12:56 PM) I`ve been looking at buying property I found for what I think is a good price. But am not too sure of the area it`s in, considering I havent been to Hamilton much. The property is on a little street called Century st, which is a few blocks from the Hamilton General Hospital. Major streets in the area are Wentworth st and king st... Just wondering if anyone knows anything about this area? crime was and such. If I get the go ahead from you guys I`d love to go look at the property, just dont want to waste my time if it`s in a grimy neighborhood.

Thanks alot

There are good and bad areas in Hamilton. I have places in both good and bad areas in Hamilton. The bad areas are really hard to manage and can get expensive.

Some borders to stay away from-North of Main between Ottawa and Wellington. Although I do have properties in these areas, the tenant can be rougher and the homes harder to keep up. There are actually some good streets in this area such as Kensington and Senator where I invest as most of the homes have gone from Rentals to Owners over the past 4 years, but it is still difficult to rent at times.

I had a "grow op" on Mary St north of Main as well and this is considered part of the new "Artsy" district.

As suggested, the best thing to do is get in your car and look for pride of ownership, good looking recent cars, schools and businesses are in good order and operational, and the residents actually hang together.

I like a demographic of a family with young school aged children so they plan on staying in the area awhile.

The areas I like are on the mountain south of the Lincoln Alexander Parkway and around the Red Hill Parkway. Again though, do the homework on any condo board and area. One of the worst schools in Hamilton is Barton Secondary and it is smack dab in the middle of the area I invest in on the Mountain. My niece was due to go to that school and her parents have sent her clear across town to get a better education. So you never know.
I hope this helps.
Carol Garrett