Investing in the Ghetto?

4 Replies

Hi everyone,

I invest in the Syracuse market and after 3 direct mail campaigns, I've thrown out so many leads due to the fact that they are on the southside, westside, and some on the north side. For those of you who don't know Syracuse, those areas are considered ghetto. But now that I'm thinking about it, maybe they're not throw away leads. I mean a lot of these landlords who own properties in the ghetto are very motivated to get rid of their properties meaning that I could get them under contract for pretty cheap. With that said, the rental rates would be pretty decent. Does anyone specialize in investing in the less-than-nice neighborhoods in their city? I'd love to hear some success/nightmare stories. Thanks!

I bought some places in Ferguson just before the shooting/riots.  It's a fairly quiet neighborhood, but would still be considered ghetto.  Just don't put up with ******** from your tenants, treat them like any other tenant, and you'll be just fine. :)

Claire Hebb so what you need to do is go to your trash can and dig the leads out. You're throwing away money!!!!! Just because you don't want them doesn't mean someone else doesn't want it. There is a buyer for everything remember that. I just got a house in the bad part of town. I wouldn't drive around at night. However, I made 10k on a wholesale because someone else wanted the deal. Stop throwing away money

@Claire Hebb , Are you still looking at investments in Syracuse? What types of properties are you looking to get into?

just went under contract with a duplex in the North. There are good tenants in these areas just take your time in the screening process and yes wholesaling these leads might be your new nitch