I grew up in the northeast, in a suburban commuter town that was on the metro north line. Then, I spent some formative years living in China and New York City. Based on this experience, proximity to mass transit was a very important factor in determining desirability of a place
-
Show this thread
-
be it residential or commercial. Last year, I moved to Dallas, which happens to have the largest light rail system in the United States by miles of track. See where the lines overlap? That must be Dallas' Grand Central right?pic.twitter.com/dyuJIGT634
1 reply 0 retweets 0 likesShow this thread -
Not so much! Tons of vacant real estate in this area. That tall building in the first photo is totally vacant. Storefronts are as well. There are a lot reasons for this, but there dynamic and complicated. Here's one: the area reeks of piss and is infested with the homeless.pic.twitter.com/fLq3k0PQtF
1 reply 0 retweets 1 likeShow this thread -
Homeless people cannot afford a car and Dallas public transit network doesn't have turnstiles. So if you're willing to roll the dice, you can hop on the train to wherever you want to go. Based on my experience following this fare enforcement person, about 1 in 5 don't pay.pic.twitter.com/LzwryuGF4t
1 reply 0 retweets 0 likesShow this thread -
The population of unfortunate people on Dallas' mass transit is basically at a critical mass to the point where it deters normal citizens from using it. So, if you have a nice neighborhood a nearby station can actually be a net-negative. Incomprehensible, until you see it.
1 reply 0 retweets 1 likeShow this thread -
Anyways, Dallas is growing like crazy and I believe has built more apartments in the past couple of years than any u.s. city but New York. Interestingly much of this development is happening in the affluent towns north of the city center, places like Plano.
1 reply 0 retweets 0 likesShow this thread -
Even with a good model based on census data or proximity to transport, it's hard to find a good location without walking the streets and living locally so you can understand the often complex dynamics that make some neighborhoods thrive, survive, or die.
1 reply 0 retweets 1 likeShow this thread -
Replying to @Molson_Hart
I recently met a guy who is doing just that. Only they buy the complexes and then run the buildings. But it's all remote and they do all of their research remotely with a ton of analytics. It seems like there is actually a lot of free data about this stuff—census data, municipal.
1 reply 0 retweets 0 likes -
Replying to @davekopec
When'd he start? A lot of successful investors started after 08 and haven't seen their market go in reverse.
1 reply 0 retweets 0 likes -
Replying to @Molson_Hart
Yeah post '08 I think. Smart thing was to buy up properties in '08. There were houses in Providence and Detroit going for $2000. Some of those in Detriot were since demolished I'm sure, but there was a ton of opportunity. But do you want to make money on someone else's misery?
1 reply 0 retweets 0 likes
If you're not the cause of the foreclosure, I see no problem with one up.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.