We are in the middle of a rehab on a rental house in a not so good area. My Mexican friend went outside to throw out some worn out paint rolls, and a big black guy asked him if he smoked weed. He said no, then they said hey we like your shoes, he says your crazy man these have paint all over them. They guy acts like he was insulted and tries to start trouble with my friend. He retreats inside the house and runs by me withing saying a word and heads out the back door. I go to see what is going on and the guy is standing there with one hand just inside his jacket holding something. He says I want to talk to your Mexican friend. I say sure and shut the door and lock it, look though the peephole just in time to see him pull out his gun and briefly aim it at the door. Then he runs off. I think he might be heading around the back of the house where my Mexican friend is at. So I run through the house to the back of the house and run and shut the back door and lock it and go back to the front and see him jumping in a black truck and storming off with 4 other black guys. I call the police, they show up 20 minutes later and are of no use.
They sell drugs on this corner, have for sometime now, and recently the city has bought everything except a few houses on this street. So I know i’m not too popular with them as they are slowly being forced somewhere else.
So I think my life is worth more than a few bucks, going to leave it boarded up now for a few months I suppose.
This is a prime example to me of areas to stay out of. If you can find deals in these areas why not wholesale them and make quick 4-5K? It’s just not worth your life, I don’t care how much your going to make on this deal… my two cents.
That is why I ALWAYS (always) carry my handgun when I’m working. You just don’t know when stupidity like this is going to happen and you would be AMAZED at the number of criminals that are carrying handguns. There feeling is that if they kill you - so what? Their scumbag low-life legal aid lawyer will tell the judge and jury what a victim they are and they’ll end up with a few years in prison. Since they frequently go to prison anyway, no big deal. Get your concealed carry permit and be disciplined enough to carry it every day (even though it’s a pain in the butt).
How can you get rid of the drug dealers? Make their life miserable. Call the cops everytime you see something wrong. Go to your city council meeting and complain. Write a letter to the editor describing the situation. Take pictures of the criminals and get their license numbers. Put enough pressure on them and they’ll move on. Of course, they may also damage your property and come after you.
I deal with this crap from drug dealers all the time (including right now). I’ve been involved in two situations with criminals who were waving guns. Buy an alarm for your property. Put up REAL cameras if necessary. Be aware of your surroundings. Have the police in speed dial. Be careful.
We live in America. We have the constitutional right to bear arms. Even if you don’t think you want to carry a gun take the class to get your conceled carry permit. That class will help you get around your concerns with carrying a gun. It is like taking swimming lessions instead of just jumping in. It goes a long way show you that you don’t have to be a wild eyed pistol waver to carry a gun.
As you guys know, i am 17 now. I think Bluemoon and PropertyManager have convinced me to get a gun and carry it around. I will feel really bada$$.
You will need to get your permit and you probably are required to be at least 18 in your state. Carrying a handgun is a SERIOUS responsibility and a serious pain in the butt (there is nothing fun about it). Walking around feeling like a bada$$ would not be a good thing. There can certainly be very dire consequences to shooting someone even if you are 100% in the right.
On the other hand, it is always better to be judged by 12 than carried by 6!
Everyone loves passive income, and many investors want (or need) large cash flow off properties…High crime/low income areas are a traditionally good place for these as prices are low and with subsidized programs rents can compete with better areas.
If you can live with less cash flow you may want to consider upgrading your locations for a variety of reasons…the properties can appreciate in value much faster and further, multi-family units have a much smaller market of prospective buyers and can be difficult to re-sell without adding a dangerous area to the equation.
Less tenant headaches, danger, damage, vacancies, evictions, etc…even if you manage to attract better tenants for your properties, will the area as a whole become safer? If not you will only be able to attract tenants who are willing to live in these areas.
Short on the cash flow but long on the appreciation is a longer term strategy…but in many instances can turn out the same as the tortoise and the hare…And no shootouts at high noon to worry about…
I’ve used beware of dog signs wih good success in inner city Richmond (VA).
If you want to add the extra touch, go head down to the local animal shelter and pick out a nice pit bull (they always have loads of them) and tie him up out front a few days while you are working and maybe consdier to let the dog run around in the house at night. The main downside is you will need to keep the dog after its done, but if you always have projects going it could be really useful.
No matter how many drugs you do, I think everybody gets (and wants to a avoid) a pitbull’s jaws attached to their body.
Being from Detroit I can suggest a few things to do.
Call the cops often - Thugs often have something illegal on them, and with repeated police involvement chances of them being arrested for carrying drugs, or weapons is very high.
Beware of Dog sign - No body likes dog bites, not even crack heads.
Keep Doors closed & Windows locked - Don’t let them see your money going into your home.
Gain allies out of neighbors - Maybe offer a rental referral program that gives them cash for placed tenants. This will give the guy next door a financial incentive to watch your house and make sure no one damages it.
Just a few tips for you. One day I should do a comprehensive guide to how to invest in bad neighborhoods.
I’m a White guy and take no offense at being called a White guy…perhaps the individuals in question don’t know that they’re a “Black guy” and a “Mexican”…??? (though if you asked them to describe themselves, I’ll bet that they do!)