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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Neighborhood Influence Posted by Sean Wagle on March 30, 2002 at 10:09 PM In Reply to: Foreclosure Question For The Masses... posted by Mike on March 30, 2002 at 2:19 PM Location, location, location. I'd say your friend is "mostly right". If you poured $20K into that $3K dump, it certainly would not be worth $23K when it's surrounded by $15K housing. But it might be worth $18K. Even in a crummy area, there will be some people who want a nicer house, but need to be close to their jobs, or an elderly parent, or something. It doesn't make sense to say NONE of your investment beyond the neighborhood norm can be returned. Otherwise, neighborhoods could never be revitalized... they would just decay into oblivion. What you want to find is a run down eyesore in an otherwise nice area. A $20K fixer surrounded by $50K housing might only need $10K of improvements to be worth $40K, which yields you $10K of profit "out of nowhere". Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Location, location, location. : I'd say your friend is "mostly right". If you poured $20K into that $3K dump, it certainly would not be worth $23K when it's surrounded by $15K housing. But it might be worth $18K. Even in a crummy area, there will be some people who want a nicer house, but need to be close to their jobs, or an elderly parent, or something. It doesn't make sense to say NONE of your investment beyond the neighborhood norm can be returned. Otherwise, neighborhoods could never be revitalized... they would just decay into oblivion. : What you want to find is a run down eyesore in an otherwise nice area. A $20K fixer surrounded by $50K housing might only need $10K of improvements to be worth $40K, which yields you $10K of profit "out of nowhere". Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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