Posted by Ron(SC) on November 07, 2000 at 22:25:53:
Think about it!
Are there more wealthy people or middle class and lower middle class?
And which classes are most likely to make you wealthy?
Look at it this way
You get to the upper classes by selling to the masses
and
You make money when you buy. You get paid when you sell.
Good Luck,
Ron
Any money in low to middle class neighborhoods? - Posted by HT
Posted by HT on November 07, 2000 at 20:29:30:
I wanted to acquire some insight from some of the contributors in this forum on making money in the low to middle class neighborhoods.
I go through neighborhoods that I would rank as a five or six on a scale of ten and I see lots of homes for sale (agents, HUD, VA, FSBO). Most of these neighborhoods are nice, except for the 3-4 neighbors who don’t maintain their properties and bring down the value of everyone else’s homes.
Outside of using the older methods, such as buy (extremely) low and (attempt) to sell high, is there anyone out there having a measurable level of success with properties in similar areas?
If so, what methods are proving most effective (flipping, subject-to, all cash offers, owner financing and selling notes)?
Any and all feedback would be greatly appreciated.
Low income, not necessarily low class - Posted by Rolfe Kurtyka
Posted by Rolfe Kurtyka on November 08, 2000 at 20:52:30:
HT;
Many of us on this site invest in distressed properties. These properties are sometimes vacant and boarded, foreclosed or in foreclosure, and often in low income neighborhoods. Personally, I can tell you that buying and renovating these properties, for both resale and rental, has been very profitable.
Good Luck! Rolfe