OfflineHi everybody,
Today I drove around in an upscale neighborhood that was built in recent years. I found no vacant or run-down homes there. But in a nearby older neighborhood I quickly found two vacant houses!
Generally, is it better to concentrate only on older neighborhoods? Shall I keep driving around in the newer upscale neighborhoods as well?
(I'm looking for vacant homes in need of a buyer!)
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Experience will tell you that older neighborhoods have a better chance to provide you with good equity in most properties. They also have more repairs or updating that helps to reduce the amount you pay for the property.
You can find good deals in new neighborhoods, but a better chance would be found in older ones.
Best Wishes.
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cmitchell, your comments make so much sense! Thank you!
Hey NewHaven, the type of deals I target are newer homes with no or negative equity. The owners may have trouble making the payments and may even be behind on payments. These sellers are likely to be facing foreclosure and many are willing to walk away. These homes are a gold mine. I can take over their debt subject to and bring in a new buyer that cant qualify for a loan. You can make 5-15K on these deals. They are fast and easy. Takes no money, no credit and they are everywhere. I will show u how, I'll walk u thru the deals and share the profits. Rando1
Rando
Rondo1 you are right about your response on these homes. They are a great place to find good deals. These neighborhoods are great to drive through and find good leads. just because they are luxury don't feel like you can't help them in actuallity you can. I have made a lot of good money working the luxury market. Keep up the good work.