@Ashley Hamilton congrats to your success!! Doesn't it feel great?
@Account Closed you are spot on in your analogy. If you are talking about mustang's, and people are coming on the the thread who have never had a Mustang or tried it, why are they commenting on this thread?? This is a niche subject.
I dont spend much time on these forums because when I started talking about this 6 years ago on here, I only heard negative. When I would ask the (obvious) question "Have you actually invested in these areas" I would get the "No, but..." -- how the heck are you adding anything important to this discussion if you have absolutely no experience in this area and a ton of stereotypes, privilege, and assumptions - what's your agenda? More on that later, because its not always a bad agenda, but we need to start with the fundamentals assumptions....
I pretty much stop trying to argue with people on here for the following reasons 1) if they think so negatively of this demographic and the "headaches" that go along with it - the tenants don't need landlords like that in their neighborhoods and I don't need to spend time convincing them 2) I don't need to try to learn or convince people who are diametrically opposed to how great this is. It's easier to follow where your tribe is than try to convince other people to your tribe. This niche is very foreign to the investors here for a multitude of reason - class, race, socio-economic familiarity, culturally, etc.
And I don't think they are necessarily wrong for that!! Some mistakes have been made in that demographic where - for that person - it WAS a bad mistake. Now, I help clients build these portfolios all over the united states successfully because i have EXPERIENCE in THIS NICHE- so, yes, you can mess up and will learn from trial and error if you don't know how to take those nuances into account (and these are investing nuances, as well as for this niche in what to expect and how to talk and work with people - you simply can not do it the same as you do other price points).
So, the people who actually have experience aren't wrong, and the people who think it cant work aren't wrong either (and I'm glad, right? Because these tenants deserve someone who comes at it with the energy for "of course this will work+," not the energy of "Well it's cheap! We will "make do" because this is what i can afford - it's a completely different energy and intent you're bringing, so why try to convince people with the latter to go into these neighborhoods - that's not what's needed). And anyways, you need a portfolio you are proud of - Not something you're ashamed to talk about around your dinner table. Everyone does better.
TL;DR - I have personally helped over 600 investors build their portfolios in the last 6 years all over country (although mostly people from NY, DC, VA, MD, TX, CA, and FL), and have inspired 1000s who are CONSISTENTLY posting in our mastermind group their progress, questions, and pictures. This place is not, and will never be, a place where they are going to cheerlead this. Look back at all the forum posts - its blatantly about 5 to 1 again - so, this isn't the place for this discussion- and THAT'S OKAY! That's okay, that's okay! It's not for them. Why try to convince someone with such hesitations about it? Everyone should build a portfolio they love (as I have, and my clients have), but if that's not for you - you don't need to focus on that then, right? But don't go in there because its cheap, because if you're uncomfortable, the tenants will pick up on it- and that doesn't end well. ever. Where as I would not bat an eye in that same neighborhood because I grew up (and out ) of the environment and its extremely familiar with me. What investors SHOULD say is that "Im not into this price range, but you should learn from people who are doing it successfully" and that level of thoughtfulness doesn't come through when I read these comments.
