Poor Area Investment in my City
I have a question for those of you who have experience investing in a poor area of town.
I found what I feel to be an amazing deal on a multi family property that would give great returns, however, it's in a poorer area of my city where there are quite a few abandoned buildings scattered around and very poor quality housing all throughout its immediate surroundings.
------>The unit itself doesn't seem to be in bad shape, it looks like it only needs to have a few windows replaced. Without me actually having a full building inspection, that's what I've been able to pinpoint from the naked eye.
However, there's even an abandoned house/buildings literally two doors down from the unit I have looked at that has a broken in back door where you can tell people likely have gone in and out of that house and probably still do go in and out.
BUT, when I drove around, the houses there seemed to all be occupied so finding tenants doesn't seem like a likely issue, truly the only problem is it's a lower income area, and the houses/surroundings definitely show that it's of lower income.
Any experience in this kind of market in terms of success of your actual investment? Any suggestions?