Understanding The Market

[Nick Thomas]

I have been spending hours of time looking into my market. Biltmore is a neighborhood in Greenville, NC. Now, the crime is considered high according to Trulia....but it's not a bad area to me since I'm used to areas like DC, Philly, Pittsburgh, etc. The houses there are selling well under value and when driving the area I see many boarded up homes that I am sure I can make low offers and attain. The locations are very close to the best areas of the city so they would be great homes if the neighbors were more agreeable. Anyone that can scope this area out virtually and tell me if buying a property for 20k is a bad deal even though it looks like it could sell for 55k after a bit of work. (The house right next door looks very nice and is valued at 100k according to Trulia) I feel it'd be a great market for someone that can buy numerous homes and turn the area around, but I could only buy one so I am wondering if it'd be impossible to sell.

Thanks for the help!