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Updated about 16 years ago,
Finding an ideal Wholesale/Rehab neighborhood
I am new investor, focused on getting that first deal done, and I'm following a system in which you focus on one specific neighborhood, using a realtor and MLS, "in your own backyard" that consists of "ugly" homes in need of repairs.
Unfortunately, where I live (Northwest DC) and work (Northern VA), there aren't too many ugly homes, and most of the investors I have met at the local REIA (which is in MD) focus on Baltimore and Maryland, including my mentor. Both of these areas are VERY difficult for me to explore given that I have a full-time job right now and they are in the opposite direction (plus DC traffic is no fun). There are some neighborhoods in Northern VA that were built post WW2 era (50s) that I think could be promising, but I'm not sure.
Would you suggest going to MD where I know other investors/rehabbers are (but is tough for me to get to) or farming in those 50s neighborhoods in NoVA, where prices are higher and I know fewer rehabbers working?
Really in need of some advice here so that I can going.