The Gentrifiers: Searching for deals in Compton. What does it take to gentrify a market in Southern California?
ByIn the last few months I’ve noticed a few more emails coming through regarding transitional areas and the value that is blindly being missed out. A few of the emails in all seriousness pointed out that a Starbucks and new shopping center have sprung out of the ground like a palm tree and hence, a six-figure price appreciation is now worth it. Forget about the lower incomes in these markets or the quality of schools or the fact that families are packing in tightly like sardines just to make rents. Somehow, the fog of gentrification is taking hold of every market equally. Yet the only people I see even remotely thinking about buying in thesemarkets are investors and that is to rent out. There are deals to be found for those willing to take on the vanguard of gentrification. One such area is Compton. Every week I get updates on properties that are priced at non-L.A. levels. Let us take a look at what we can find in the market today. We might even find something that is up your alley…
