Neighborhoods, especially the most profitable neighborhoods, like to see investors come in and clean things up. When you transform the neighborhood eyesore into an attractive abode, you not only make the neighbors feel better about where they live, but you also improve their homes' values. You gain your own personal sales force of enthusiastic supporters who spread the good word about the new house on the block that's up for sale.
Some investors who are just out for the quick buck buy a property, cash out the equity, and quickly lose interest in it. Con artists may even use the house for some illegal flipping scheme, paying an appraiser to inflate the home's value, cashing out the inflated equity, and then abandoning the property altogether. Don't join the ranks of these real estate leeches.
Don't get seduced by quick cash opportunities. In the long run, you stand to make much more money investing in foreclosures by being sincerely interested in the neighborhoods you're investing in. When con artists descend on a neighborhood like a swarm of locusts and leave it devastated, they earn a quick profit, but they also earn the loathing of the neighborhood. When you work to improve a neighborhood, you build a neighborhood that's ready and willing to support you.
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