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Old 10-27-2015, 01:21 PM
 
Location: Los Angeles
12,114 posts, read 10,245,532 times
Reputation: 32963

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Quote:
Originally Posted by Ultrarunner View Post
Yes... and I have done it several times and each time has been more profitable than the last.

I like buying distressed in up an coming areas... willing to wait years and then reap the reward.

The key is being able to buy at a price that makes sense... in other words at a deep discount.

My second home had two problem neighbors and the Real Estate Broker was having a real problem because of this...

I was able to buy the place right and not make enemies...

Within the first year the property next door sold to a nice young couple and 3 years later the homeowner on the other side was sentenced to 20 years in prison for drug dealing and tax evasion...

Just look at it on the flip side... what if you bought the prefect home with perfect neighbors and they moved and it went downhill from there?
I get what you're saying but in my opinion I'd rather start in a good situation and risk it turning bad then start out in a bad situation and hope it got better.
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Old 10-27-2015, 01:50 PM
 
3,953 posts, read 3,183,098 times
Reputation: 12864
Im really amazed at the gullibleness (is that a word?) of people. Just because some stranger tells you something, it has to be true? Is it not obvious that the seller has an agenda? Why not actually talk to other neighbors and find out their unbiased take on the neighborhood. Why not drive thru the neighborhood at various hours of the day and night and observe first hand what is going on there.
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Old 10-27-2015, 02:00 PM
 
26,579 posts, read 52,055,370 times
Reputation: 20358
For me... it was just getting started with the first one.

Each move was a little better geographically and it did prove profitable.

I was not alone... several of my high school friends ended up doing the same.

I do try to take the long range look and make my best guess.

I've met a few that have become wildly successful... buying old run down property near the Oakland, Berkeley and SF Waterfront... property that was considered the bad part of town and most undesirable...

In my example in the previous post the "Nice Young Couple" that bought next to me almost didn't... they said later the only reason they did buy was because I would be their neighbor...

Sometimes the smallest change can have profound long lasting impacts...

This is what I've learned about moving into a problem neighborhood... offend no one, keep your place up and greet everyone with a wave... the criminals, delinquents, drug dealers, etc... tend to have very short lives... either they die, get sent off to prison or find Jesus... as in turning their life around.

At my second house... I actually had the local Drug Dealer stick up for me... his dog got loose and I told him I had just seen it on my way home... after that... they left me alone and must have told others the same.

Only the OP can decide what is the right choice... and no harm either way.
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Old 10-27-2015, 02:03 PM
 
Location: Tucson for awhile longer
8,872 posts, read 13,497,465 times
Reputation: 29030
I bring your attention to this cautionary tale of how far neighbors can go to torture people they don't like:

Cops: Florida Couple Stalked a Woman for Being French - The Daily Beast
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Old 10-27-2015, 02:07 PM
 
26,579 posts, read 52,055,370 times
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Quote:
Originally Posted by carnivalday View Post
Im really amazed at the gullibleness (is that a word?) of people. Just because some stranger tells you something, it has to be true? Is it not obvious that the seller has an agenda? Why not actually talk to other neighbors and find out their unbiased take on the neighborhood. Why not drive thru the neighborhood at various hours of the day and night and observe first hand what is going on there.

It is very easy to sway public perception... people are quick to form ideas based on hearsay... it is human nature.

It also takes a little work and willingness to do your own due diligence...

My worst ever neighbor turned out to be in my best neighbood... he was a self absorbed petty man that also happened to be a lawyer... people avoided him and he put the family that owned the lot across the street through the wringer and they spent 7 years trying to build... said he liked the look of the street as-is if he had anything to do with it they would never build or be so expensive they wished they had not started.

In the end the lawyer ended up buying the property for very little and built a spec home... just before selling and moving...

I don't know... given drug dealers or a thug lawyer... I have done better with drug dealers...
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Old 10-27-2015, 03:59 PM
Status: "Don't believe everything you think." (set 1 day ago)
 
Location: Northern Minnesota
30,065 posts, read 2,529,014 times
Reputation: 8531
Here's what I don't get: Why would any seller be telling potential buyers about
her horrible neighbors?
Wouldn't that be hurting the seller's chances of selling the house?

If I am selling a house I sure as heck wouldn't be telling buyers how much I hate the neighbors! There is nothing on a disclosure statement that asks how you "feel" about your neighbors. If there are issues that are a matter of record, that's different. Go to city hall and look them up.

Oh and there's no way I would have even gotten as far as you did on this property, OP.
Good luck in your house search.

Last edited by geebabe; 10-27-2015 at 04:08 PM..
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Old 10-27-2015, 04:23 PM
 
16,990 posts, read 20,594,508 times
Reputation: 33956
Quote:
Originally Posted by carnivalday View Post
Im really amazed at the gullibleness (is that a word?) of people. Just because some stranger tells you something, it has to be true? Is it not obvious that the seller has an agenda? Why not actually talk to other neighbors and find out their unbiased take on the neighborhood. Why not drive thru the neighborhood at various hours of the day and night and observe first hand what is going on there.
Could you please explain that agenda? Having sold a house in a state that I really wanted to leave I had to remind myself to keep my trap shut when it first started showing to not comment to a potential buyer how hot/humid it was most of the year.(Florida).

The potential out of state buyers had just come from outside and were coved in sweat, it was a typically hot and very humid day, I was about to say "isn't the weather here miserable", and than told myself "dummy you're trying to sell so you can leave".....LOL.

Why on earth would someone tell a potential buyer about how horrible the neighbors were? What's the end game unless you really don't want to sell?
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Old 10-27-2015, 04:53 PM
Status: "Don't believe everything you think." (set 1 day ago)
 
Location: Northern Minnesota
30,065 posts, read 2,529,014 times
Reputation: 8531
Hmmm ... so you agree with me, eh, seain dublin?!

Last edited by geebabe; 10-27-2015 at 05:03 PM..
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Old 10-27-2015, 05:00 PM
Status: "Don't believe everything you think." (set 1 day ago)
 
Location: Northern Minnesota
30,065 posts, read 2,529,014 times
Reputation: 8531
Quote:
Originally Posted by NewYorkiforniainHouston View Post

I get the feel that the OP wants to go through with in spite of......I can't wait to see the follow up thread 6 months from now....here are some thread titles to keep in mind OP

"Well C-D, I should have heeded the warnings!"
"Neighbor dog poop smell/dog barking/dog beatings are driving me insane! What are my rights?"
"Seagulls are overtaking our garden and the neighbors won't stop feeding them!! What do?"
"I'm home all day, but don't get a moment's peace with (insert trashy neighbor behavior here)"


Isn't that the truth!!!
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Old 10-27-2015, 05:28 PM
 
26,579 posts, read 52,055,370 times
Reputation: 20358
Quote:
Originally Posted by seain dublin View Post
Could you please explain that agenda? Having sold a house in a state that I really wanted to leave I had to remind myself to keep my trap shut when it first started showing to not comment to a potential buyer how hot/humid it was most of the year.(Florida).

The potential out of state buyers had just come from outside and were coved in sweat, it was a typically hot and very humid day, I was about to say "isn't the weather here miserable", and than told myself "dummy you're trying to sell so you can leave".....LOL.

Why on earth would someone tell a potential buyer about how horrible the neighbors were? What's the end game unless you really don't want to sell?
Depends on the disclosure laws of the State, if any.

In California we have a duty to disclose anything that could material affect the value of the property negatively... unless forbidden by law... such has when a recent death occurred from AIDS... at least this was the case last I checked.

Many seasoned Real Estate professionals err on the side of caution and advise their clients to do the same... both must generally disclose and there is a State Form too.
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