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Updated over 8 years ago on . Most recent reply
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Am I wasting my time driving for dollars in "Bad" nieghborhoods?
Hey guys, I was wondering am I wasting my time driving for dollars in "bad" neighborhoods, or neighborhoods with multiple boarded up houses on one street? If so, where should I be focusing my attention? I ask because I always find myself in these neighborhoods and I drive for about 3-4 hours every morning and I'd like to be as efficient as possible. Any help would be appreciated, Thanks!
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Have you ever heard that it is hard to see the forest for the trees? I think that people on this forum often answer questions without exploring the details. I would love to help you determine if you are wasting your time, but I don't think there has been enough detail given. There may be a huge opportunity that is staring you right in the face, but if you don't know how to take advantage of it, or if you aren't asking the right questions then it will never become an opportunity for you. If you could buy the houses for say 25% of the current value would that be an opportunity? Does the area have anyone living there? Maybe you could be the newly introduced breath of life to an area that is in a downward spiral. I have been known to buy what no one else wants many times, and it generally means a better deal. The difference is that you need to know how to work it, the best way is to get advice from others who have traveled the road before you. If you want more complete advice then you need to ask more complete questions. I know people that only buy in bad neighborhoods, they are considered heroes by the people who move into the houses because they offer an opportunity that no one else offers. Maybe that is a possibility, but in order for any of us to help you we would need to know more about the entire situation. Have you tried inquiring about any of the houses that you mention? If you haven't even looked into them than you don't know what you might be missing out on. I understand that 95% or more of the people on here will disagree with me, but also consider that the 1 percenters are obviously not part of the majority. If you can get more details and have an in depth understanding of that area, maybe I could help you form a winning solution.