Buying properties when the properties are run down. Which need lots of repairs and the prices were depressed and few want it.
You need to find good locations properties at depressed price.
You needed to spend lots of efforts calling contractors to repair and paint it nicely.
You can get good rental yield from the properties after spending effort in cleaning, paint & repair it when the environment improve, it will get better response.
Of course you need to find a value for money contractors to fix it, as everything is broken, the owner can't sell because it need lots of time, expertise and efforts to fix it.
Take your time to find a good reputable contractor, it might save you lots of headache later.
It is better to get a contractor who specialised in their area, rather then a general one.
Each contractor had their area of expertise but might not in other area.
Locations is the most important factor in considering properties investments. When an area is growing with massive developments the demand will grow. Many professionals will be interested in the area.
When economy don't do well, a better location property will be easier to get tenants or buyers.
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