NYC has many opportunities, people aren't going to moved to a region where republicans dominate, wages are low, and employees are treated unfairly. In your ideal world what should happen?
I don't agree and even if we want to argue semantics I still think there are more opportunities down south or just outside of NYC.
Explore all your options, why would ANYONE limit themselves to such a small percentage of the country? That doesn't make sense.
The key is to OWN or have a DAMN good business plan that is almost bulletproof. Owning is clearly a problem for MOST of us and that is strictly a finance issue. Do you really think the people here on the Coli are balling out and being able to check out property in downtown Manhattan? Hell, almost any nice building in Manhattan is going to run you 1+ million and thats even before maintenance and everything else is factored in.
Just ONE example:
Why not look at a place like Detroit? Granted, Detroit is not the best place to live, but it doesn't mean that it doesn't represent an opportunity for us. The prices in Detroit are at ROCK BOTTOM and you can look at it in 3 ways.
1 - Buy and sit on the property until the situation improves, then fix and sell
2 - Buy, fix and throw it for Government housing ASAP to get that money rolling in - You mostly get paid by the government and they give you market rate (couple of headaches though)
3 - Buy a couple of properties in a small radius and have a great impact on how things turn out in the city
Now realistically how many opportunities are out there in NYC in where the average hourly worker is going to have those kind of opportunities? Right, not much. In detroit with a 100K investment you might be able to scoop up 10 properties that you can fix up slowly. Get the ball rolling with 1 of them under Section 8 and keep pumping the rest. The shyt is really not that complicated AND you are also providing a good service for the community provided that you are offering them a nice place to live...not some dump.