Woodstocket Rhode island Investors
I am still struggling to get my first deal done. I am wondering about the market in Woonsocket. I see all the multi-families ( foreclosed) for sale( 80k-100k), however when ever I try to pull comparison they are all going for around the same amount (80k-100k). In this case flipping does not seem worth it. When I start to look at the properties both types ( foreclosures and non-foreclosures) are all run down and not kept up.
So my question is do other investors/landlords look for fully ready rentable properties?
Some side notes: No I do not think this will solve my stumping on the first deal however I am wondering if there is a opportunity here... Also I understand Taxes are very high in woonsocket right now which is a big deterrent for people to buy properties in the city, Though driving through the city in general it is look a lot cleaner and the schools are getting revamped.
Please let me know what you think
AJ