Renting Property In The Hood

[Zach D.]

Hey Everyone!

I just found a possible lead on three properties I believe I may be able to aquire and get rented extremely cheap. They are all three within 1 block of the projects and one of them is actually the last house at the entrance. My day job is immediatelly beside the projects so I have a good understanding of what has happened in them. 3 years ago they were infested with drugs and prostitutes however about a year and a half ago the local and stte police really started cleaning the place up and I have not noticed any fancy cars with out of state plates or girls coming and going or people regularly going in and out of peoples apartments. The city itself has also recently in the last 3 years or so seen an inflow of investments with new storefronts opening on mainstreet. My question is has anyone else ever taken a risk on a deal like this, if so how did you moniter for drugs, and lastly did you have trouble finding qualified tenants to rent and what were was your screening parameters? Thank you in advance!

[Jeff Willis]

My 2 cents. 

Once a ghetto, always a ghetto.  In my 40+ years of doing this, I have seen good neighborhoods go bad but never bad neighborhoods go good. You can't demand high rents and low rents will attract the riff-raff