Posted by Ronald * Starr(in No CA) on August 13, 2003 at 20:00:34:
I think you have it right. Different areas different things might work. I think Irwin is in So CA, where everything is high-priced. Myers is in Albuquerque where there are lots of low-priced properties and not many high priced ones, I think.
Also, it is probably a good idea to start with smaller projects, which suggests lower-priced ones to gain experience before taking on a big project with possible risk for a lot of money invested. After you have done a couple of smaller deals, perhaps you will want to move upscale. Some do, some don’t. I have had only a couple of middle-class rentals, all mine are in below-average and below-below average neighborhoods. I’ve felt no desire to “move up.” You might.
Good InvestingRon Starr***