Re: Both creative and “noncreative”… - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on September 29, 2003 at 20:01:14:
I don’t think there are neighborhoods that are flippable or unflippable. The issue is can you buy a property for considerably below the market value. And is there a market for fixer-upper properties?
If you are in a higher-cost neighborhood, it may be that investors will not want to hold rental properties as they do not produce positive cash flow. However, in those neighborhoods, there are use fixer folk who will buy to fix and then resell at retail to the owner-occupant market.
If there are extremely low-priced “ghettos” or “warzones” where there are a lot of vacant lots and lots of deteriorated houses, it may be that there is no market for selling the real rundown properties. However, I would not rule out such a marketplace without talking to investors and fixer folks who operate there. There have been some stories on these archives about buying properties for a couple of thousand dollars and reselling for $3500 to $5K.
Good Investing**************Ron Starr*************