Not a good deal or just a bad neighborhood
So I took the approach of going after a good deal to bring in the cash buyers (as opposed to building up a cash buyer list first). So now I have a non-mls property under contract (7 days) and no buyer yet. It's in a rougher part of town and according to my calculations, it'd be AT LEAST a 20% ROI.
If I had cash, I'd do it myself, specially since I won't have a wholesaler's fee in the middle. I've advertised here, craigslist, and even FB groups. I'm about to let other wholesalers and realtors into the deal but my question, I guess, is:
Do rehabbers generally stay away from rougher areas. I mean, the smaller houses I assume are quicker flips and considering the low prices...wouldn't that mean low risk, high reward? Or maybe my numbers are just wrong but I'm pretty confident they're not. Any thoughts?