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Updated over 7 years ago,
Investing in poor neighborhoods close to rich neighborhoods?
I am thinking of investing in a poor neighborhood (poor schools, more crime, lower house prices) in Houston, TX (the Third Ward) which is only 10 miles away from the medical center/Rice University and the "rich" neighborhoods. I would like to rent to medical students (Baylor College of Medicine), doctors, hospital employees, and Rice University students and not anyone else.
Do you think I would be able to attract and obtain these kind of tenants if I purchase a new or renovated property in the Third Ward area? There are also 2 universities in the area but I prefer not to attract those students. Can I only advertise to hospital employees/doctors/medical students and Rice University students?