Seasoned Investors in C to D Class Neighborhoods

[Kerry B.]

What makes you assume the risk of investing in these areas? We have a friend whose family is a major player in NYC and they snapped up homes when they were essentially ghettos in the 80s-90s.

We want to try this strategy, but it seems in these neighborhoods, property managers are hesitant to take on the properties, and they often warn you'll have high turnover and a hard time finding a decent tenant.

Anyone who has been successful have any tips and tricks for investing these pre-gentrified neighborhoods?