Are affordable houses too cheap?

[Paul Day]

This is my first post so I'm sorry if I break any rules!

I'm looking at investing in Buffalo, New York for my first REI to get my foot in the market.

Buffalo isn't short on distressed homes. The city was selling them for a 1$ for a while.

I'm a skilled handyman so renovations don't scare me. I have experience roofing and doing major structural repairs which makes me feel these distressed properties are right up my alley.

I'm hesitant to pull the trigger on one of these "deals" for because most of them have been on the market for 200+ days.

If anybody has anything to share about distressed homes or the Buffalo market in general.

I've wanted to buy distressed homes in "bad" areas for years but I'm always talked out of it by somebody "smarter" then me. I've seen too many distressed buildings turned into high end homes. I don't want to keep missing the boat. On the other hand I don't want to rush into something that's obviously a terrible idea in hindsight. I've been running numbers like crazy and I can't find a reason not to buy these houses.

Thanks!