Posted by Jim Kennedy - Houston, TX on November 18, 2000 at 15:23:19:
“Bread and butter” neighborhoods refers to areas where “average” blue collar, working class folks live. They are somewhere between the “war zones” on one end of the spectrum and the “Beverly Hills Mansion” type neighborhoods at the other end of the spectrum. Price is a pretty good indicator. In Houston, homes in the $50K to $90K price range would generally be considered “bread and butter”. Your market may be different.
As for finding the “right” house, you should be looking for a house that has a motivated seller attached to it. In fact, many experienced real estate investors don’t look for houses; they look for motivated sellers. Spend some time reading all of the how to articles on this web site. Visit the main news group and read the posts there. Also, search the archives of the main news group. You will get some very good ideas on how to find those motivated sellers.
Hope this helps.
Best of Success!!