Flipping may work…But I found that you run up against low appraisals and low credit quality buyers.
But collecting rent and finding credit worhty tenants is very difficult in these kind of places…
Zero hedge has 16 reasons not live in California. .Considering the source I am not suprised at the negativity…For some reason they can’t seem to explain why people keep coming and prices keep going up…lol
Three Kudos to you for this post ! Every real estate owner/investors must read this post/information.
Great info for many real estate people to look out for century old saying “Location, Location and Location” !!
Avoid Drug-addicted, violent, illiteracy, Gang locations. It is hard to change it as it may take decades to pass.
Hmm, is Riverside that bad considering there is a UC there?
What about the top ten black trash, Hispanic trash, and Asian trash cities?
Black-- Oakland, Richmond, Bayview
Hispanic–alum rock, mission
Asian-- Chinatown, Portola
Avoid avoid avoid!!!
Fresno is mostly Hispanic. How can it be a white trash city?
The racial makeup of Fresno was 245,306 (49.6%) White, 40,960 (8.3%) African American, 8,525 (1.7%) Native American, 62,528 (12.6%) Asian. Hispanic or Latino of any race were 232,055 persons (46.9%).
So, 50% are Hispanic and 20% are Asian+Black. That means 30% are “white trash” according to the article…
Riverside was affected badly during 2008-2011
It is not black or white or any color that matters, but low income population areas are the key for this issue.
Low income is a result of less skilled job. They are unable to hold the job during recession, results foreclosure spree.
Low income results in low spending on education, family rift, unrest etc leading to drugs, violence and related matters.
This is the main reason high cash down places are getting secured, for real estate, as they can hold jobs, revenue stream and the home itself.
However, the “low income” neighborhoods such as Oakland and Antioch are having a Renaissance because a lot of investors scooped up properties during the downturn and converted them into rentals. These investors are cash rich so they are probably recession proof.
Low income people of color live in urban centers, which are getting popular
Low income white people live in remote places, it’s getting less and less popular. The kids from the white trash family would move to urban centers and desert their remote home
Oakland, Antioch, Sacremento and Stockton most of the homes are bought by full cash and most of them turned to rental homes, but not for living purposes.
If you see high value areas, People buy with full cash to live, but not really for rentals.
During downturn, cash rich investors escape bankruptcy, but normal home owners file bankruptcy.
Investors are there everywhere, their aim is high returns, cashing the opportunities.
High cash flow and low price attracts investors. They hold for long at those locations.
In high growth and high value areas, investors do not hold, but flip to make big profits.
I believe what you have just said is extremely racist, will get manch blacklisted for life, and this site shut down by a bunch of student protestors and their tenured college professors. It’s only acceptable to pick on white people nowadays, and only if they’re male, or if they’re very very rich women who have recent drunk driving records.
Although, you are allowed to pick on your own kind, so you can make comments on Asians if you like.
Well, in Chinese culture, “black trash” is not any more racist than “white trash”.
But what you said is also very wrong. You cannot pick on white people anymore than non-white, men anymore than women, and the rich anymore than the poor. There should be equality and a level playing field for everybody.
So, if it is ok for someone to say “white trash”, then “black trash”, “brown trash”, and “yellow trash” should also be ok.
It is not ok to pick on rich white men, even if you are a woman:
It was tongue in cheek kiddo.
I agree with you
Fortunately wuqijun is not employed now. Otherwise, some people may go to his employer and will get him fired
why must be tenured?
I think people can already tell that both you and me make lousy employees… so don’t try to get smart with me when you’re also on the same boat!
However, I’m a terrific investor! And that’s 100x better than being a terrific employee, in my book.