Want to invest in my own neighborhood

[Cheree Harris]

Would like to read some feedback on the pros and cons of investing in my own neighborhood. I’ve owned my home for 11 years moved out of it for about 5 and now I’m back. There are homes that have remained empty since I moved out 5 years ago. The neighborhood is in a lower socioeconomic area and over half is occupied by renters. We have a huge problem with gangs and people who just dont care. My dream is to turn the neighborhood around for the better but know it’s going to take a lot of work. I’ve even considered writing to owners of the empty and obviously deserted properties to offer property management services just so the houses will be occupied, but of course, with good quality renters. Looking forward to your thoughts.

[Joe Villeneuve]

You know your area more than others, but that isn't a good reason to invest there.  Never invest in an area just because you know it.  However, you should never invest in an area if you don't know it.  Invest in an area because it is a good area to invest in (profit/cash flow), and then become an expert in that area...even more so than the area you live in.