Enhancing a community
Hello BP community...
Lately I've been thinking about my pursuit of real estate investing and something random came into my head and I wanted to hear your thoughts on it. From what i've seen... there is a population of people who stay away from "warzone" communities and another population who loves the cashflow in them but has an understanding of the risk in having bad tenants tear up the place. With a higher risk of tenants tearing up a place, results in investors logically not putting that much money into the property but keeping the property as sturdy as possible. My question relates to the possibility of not only enhancing a house, but enhancing a community of houses in which an investor increases the value of all houses around rather than following suit with whats on the market. Is this wishful thinking or is this a practice that currently goes on. Outside of wanting to make money, I feel it would be so fulfilling to turn a community around (not gentrifying the community) instead of focusing strictly on the save nice communities. Does anyone else believe that by bringing quality houses to a "warzone" (or close) community could help bring some pride to that community ultimately getting tenants or owners to want more for their properties? I'd like to hear your thoughts on this one.