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Updated about 5 years ago,
Purchasing Duplex's in lower income area (Need Help)
Hello, I am a new real estate investor from Arkansas. I am considering purchasing a property in a neighborhood that has a history of drugs and some other crimes. Rent, in this neighborhood is in the lower 50% but this property will provide great cash flow. I have never purchased an investment property in a lower income area such as this and would like some insight as to what I should expect for tenants, repairs, and capital. How do you collect rent? With my other property people just pay me online while with these some people may or may not have bank accounts to pay me directly with. What are some things I can do to really add value to the neighborhood and bring in good renters? I don't want to not purchase the property just because it is in a bad neighborhood. I'd like to add value to the neighborhood, while also being prepared for the worst.