Investing in the Ghetto?

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Hi everyone,

I invest in the Syracuse market and after 3 direct mail campaigns, I've thrown out so many leads due to the fact that they are on the southside, westside, and some on the north side. For those of you who don't know Syracuse, those areas are considered ghetto. But now that I'm thinking about it, maybe they're not throw away leads. I mean a lot of these landlords who own properties in the ghetto are very motivated to get rid of their properties meaning that I could get them under contract for pretty cheap. With that said, the rental rates would be pretty decent. Does anyone specialize in investing in the less-than-nice neighborhoods in their city? I'd love to hear some success/nightmare stories. Thanks!