Your experience investing muti-family in class-C areas
I have been trying to invest in multi-family for a while now. I have run analysis on various properties for the last 3-4 months. Every time I found something interesting in a class-A or class-B type areas, it is either overpriced or there are so many bidders jacking up the price ... it is just ridiculous.
Recently, I have started taking class -C properties more seriously. Running the numbers more closely. Doing a more detailed crime-rate analysis, driving in the areas during the day and at night. Sometimes, even stopping and engaging in conversation with folks who live there just to get a better feel ... etc.
In understand there are plenty of challenges in such areas. But I believe, with the right approach, the right strategy and appropriate implementation and follow through one can make it worthwhile.
To the more savvy investors out there, based on your personal experience, If you were to list 3 key things that helped your investment thrive in a class-C area, what would those 3 things be? Would you invest there again?