http://www.biggerpockets.com/renewsbl… It seems that the mainstream discussion about depressed housing seems to have one broad brush strokes on all depressed housing (priced anywhere from 15k-45k), as if every neighborhood in the country has the same characteristics.
And despite the fact that we say the truism that real estate is local, the conversation turns south very quickly over these large geographic areas.
However, I feel the greatest opportunity lies in the fact that these broad brush strokes don’t pick up the delicate flavors of the herbs and spices that create this culinary feast of real estate investing.
4 Comments
I am glad you posted this video and it does not surprise me that you
haven’t received any comments on it considering that race/ethnicity in
real estate investing is always the “Elephant in the Room.”
In my humble opinion ethnicity should never dictate where you invest. I
think anyone that avoids a certain area based strictly on a an ethnic
demographic is ignorant/bigoted and they do not deserve to make the kind of
returns my partner and I make. With that being said I try to stay out of
war zones but safety is the only reason for that. We are all one people
regardless of race, should help others, and stand united! And if we can
make a couple of dollars in the process that is just icing on the cake.
There is a big difference between the “hood” if that’s what we want to call
it for a lack of a better word and working class neighborhoods. I think you
did an excellent job at explaining the difference. Investors would be
smart to invest in solid WCNS (working class neighborhoods) regardless of
race/ethnicity. Most people in WCNs will be happy you are there and will
embrace what you are doing. Some of the nicest people I have met have been
the neighbors of rehabs and it makes me feel good that I can help improve
their neighborhood.
Very well stated. I whole-heartedly, 100% agree with every fiber in me. I feel my job is to open people’s minds, and throw off some body put into their heads, that simply isn’t the case.
these videos are so real, she makes it seem attainable, other folks trying
to sell a book or system, talking about no money down become a millionaire
in two years.