Investing in low income urban areas
I'm just starting in the real estate business, but I'm drawn to plexes and most of the ones I find that I can realistically buy are in dilapidated areas. I'm mostly looking in Birmingham, Alabama. My question is: to get started should I take a chance on cheaper multifamily in order to gain experience. I'm 29 with a full time job, wife 2 kids and about $10,000 to use for bank financing.
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I dont like working in war zones but I would rather have units that are under leveraged than a business that doesnt make money.... Work where the numbers work not where you want to work.