Buying/wholesaling in war zones?

[Rick MacGills]

I'm getting into real estate through wholesaling, and I've invested $20k into education, lawyers, marketing, etc., but I've been struggling to find my first real estate seller because it's a seller's market. I've done quite a bit in the market for weeks now.

At the Greater Cleveland REIA, I've seen emails and heard people talk about how they have properties available in cities like Maple Heights and East Cleveland, and someone even wanted to make an offer on one. So far I've stayed out of war zones because I heard investors don't want to invest there.

As the only properties I hear about are in bad neighborhoods, and I haven't had any luck with probate, FSBOs, or divorcees in good neighborhoods, I'm considering the war zones as an opportunity. In your experience, is that a smart place to invest?

The way I see it is someone just starting with rentals who doesn't have a lot of money could buy them and rent to a renter by necessity. Ex cons and people in poverty have to live somewhere, and if they are set on having a house, they can rent from those landlords and be fine with the crime.

My concern is that even if I have a good deal, will I have a buyer?

[Jay Hinrichs]

@Rick MacGills  my question is why would you do this at all.. your making basically real estate fee's as an agent you can build a career .. this is a dead end street 95% of the time.

you may want to think about it..

if you put the time in to be a good agent and give it a decade you will then be basically working referrals the rest of your career.. spending little on marketing.

my wife who has 25 years at this sold 15 million last year ALL referral and not one dime spent on marketing.. of course she worked her you know what off in the beginning but now its really quite rewarding.. and your TRULY helping folks buy the home they will live in or invest in.. Not having to work in the Ghetto and work with those with all sorts of personal Drama all the time..

she just handed me her escrow flow sheet today.. and she has 2.5 million closing in the next 45 days... :)   I only say this to encourage you to think long term and the long game..

Great agents make some serious money..

I know I started at 18 in 1975.. not internet we had a big book with listings in it.. newspaper adds and you were big time if you had an 800 number.. but that foundation was everything.

clients I met over the years selling them property or selling property for them became investors and life long contacts and friends.. opened up many doors.

think about what kind of residual business your going to get helping some distressed seller of a ghetto dog sell their 20k run down flop house.. ?????

now you can just chuck this whole reply .. but I thought its worth mentioning.