Updated over 2 years ago on . Most recent reply
Investors in High Crime Distressed Areas - Class D
I was born in low income due to that lived in the hood, bad ones as a kid (Camden, NJ | Projects in PR) also first few years as a married couple (Texas Ave, Americana Blvd, O.B.T.) "Started from the bottom now we here" level now.
I know we all here share plenty of advice to stay away from certain products or risks and projecting your personal reasons of why you don't want to invest in this, in that, etc.
I know all investments are hard work and dealing with people and responsibilities are hard work, but I want to know who actually is pursuing such properties in such neighborhoods with open arms and actually enjoy it and love the results in such D class and enjoy managing them.
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I have previously owned/managed D/C- rental properties for many years, and they are challenging to manage. The properties require daily attention, there are always issues, and rent is never paid on time or in full. You cannot really find 3rd party property managers for these properties as well, since most will not do it.
If you really want to purchase D-class properties, I would make sure you are able to manage it yourself (or you have a team), you have deep reserves for non-paying tenants and repairs. Maybe see if there are any local government programs available to landlords who purchase/renovate in the areas you are interested in.