When I came to Smalltown in 2007, I really didn’t have a clue as to where I was. I saw a lot of dirty white skin with camouflage and tattoos. I saw a lot of vehicles with rusted bottoms. I saw a lot of drug fiends and prostitutes. I saw a lot of boarded up houses and empty commercial real estate. In the downtown area, I was literally the only African American working not only in my building, but the surrounding buildings as well. 2016 is coming to an end and, as I look back eight years later, so much has changed since then.
I started working at the bank job in September of 2008, and I realized that I was the only African American male working in my building. The entire downtown area had maybe 3 or 4 African American men working, and I’m not exaggerating. The only area I would find a lot of African Americans downtown were places like the welfare office building, courthouse, and the jail. Things are so different now. There are African American men working all over the downtown area. Seeing these dark skinned men walking around during lunchtime in nice clothes is a nice sight to behold. I wouldn’t see too many African American men during some of my therapeutic walks in Manhattan back in college. When we’d pass each other, we’d give a nod and it felt… I dunno. I liked it. Well, it happens here too.
Among the changes in Smalltown is the decreased population of drug fiends. Smalltown was one of those Upstate/Central NY towns that were heavily affected by the loss of industrial factory-type jobs. When the jobs left, the depression set in that the jobs weren’t coming back and they got hooked on drugs. I used to see them all the time wandering around like zombies and it was depressing. Since then, many of the property owners in bad neighborhoods have replaced their drug-addled tenants with immigrants, and that changed entire neighborhoods. Immigrant restaurants and markets are replacing the old Italian businesses that closed down and became vacant buildings that attracted squatters and dealers. It’s very cool to see how the neighborhoods change for the better, and I really wish I had taken advantage of it when I had the opportunity. For example:
This is a 4 family property that was for sale early last year. The price was for $99,000 and, at the time, I wanted nothing to do with it. It’s located on what was then a bad street, and I didn’t want to go through the process of finding welfare bums willing to live there every time a tenant left (most likely evicted). If I had actually visited the area, I would have seen that the street had been taken over by Muslim immigrants. And I really mean “taken over”. Stores, laundromats, churches… that whole street is immigrant owned. The Halal market that I purchase meats from is right next to the 4-unit. Anyway, a smart investor bought that property and rented all four units to Nepalese immigrants. He’s clearing at least $1,100 a month with a mortgage or $1,600 without one. No need to post ads and low taxes thanks to the area. That could have been me! Instead, I bought Property 4 with will make an average of $650 a month.
Smalltown is moving forward and I can’t be left behind. It brings a smile to my face when I see new businesses and construction going on all over this place. I may have missed a golden opportunity with the 4-unit property, but there are others out there. When I’m ready to buy the “big property” next year which will signal the end of paycheck work, I won’t be looking primarily at expensive properties in the “white areas”. Based on what I’ve seen, I can make much more money in the ever-growing immigrant neighborhoods. And in the current social climate, I think I’d prefer it that way.
P.S.: I’m trying very hard not to call the purchase of Property 4 a failure, but this post makes it very hard. I mean, I could have made twice as much money with that 4-unit AND gained a greater reputation in the Nepali community. And I would have only had to use $30,000 instead of the full $55,000, leaving me with $25,000 that could've been used for another property or for trading. There’s no doubt I missed a great opportunity, but I can’t dwell on it. I purchased a property that will make me less money, but at least it’ll make me money. Mistakes that make money allow me to try again and do it right the next time around. I can believe that, right?
I started working at the bank job in September of 2008, and I realized that I was the only African American male working in my building. The entire downtown area had maybe 3 or 4 African American men working, and I’m not exaggerating. The only area I would find a lot of African Americans downtown were places like the welfare office building, courthouse, and the jail. Things are so different now. There are African American men working all over the downtown area. Seeing these dark skinned men walking around during lunchtime in nice clothes is a nice sight to behold. I wouldn’t see too many African American men during some of my therapeutic walks in Manhattan back in college. When we’d pass each other, we’d give a nod and it felt… I dunno. I liked it. Well, it happens here too.
Among the changes in Smalltown is the decreased population of drug fiends. Smalltown was one of those Upstate/Central NY towns that were heavily affected by the loss of industrial factory-type jobs. When the jobs left, the depression set in that the jobs weren’t coming back and they got hooked on drugs. I used to see them all the time wandering around like zombies and it was depressing. Since then, many of the property owners in bad neighborhoods have replaced their drug-addled tenants with immigrants, and that changed entire neighborhoods. Immigrant restaurants and markets are replacing the old Italian businesses that closed down and became vacant buildings that attracted squatters and dealers. It’s very cool to see how the neighborhoods change for the better, and I really wish I had taken advantage of it when I had the opportunity. For example:
This is a 4 family property that was for sale early last year. The price was for $99,000 and, at the time, I wanted nothing to do with it. It’s located on what was then a bad street, and I didn’t want to go through the process of finding welfare bums willing to live there every time a tenant left (most likely evicted). If I had actually visited the area, I would have seen that the street had been taken over by Muslim immigrants. And I really mean “taken over”. Stores, laundromats, churches… that whole street is immigrant owned. The Halal market that I purchase meats from is right next to the 4-unit. Anyway, a smart investor bought that property and rented all four units to Nepalese immigrants. He’s clearing at least $1,100 a month with a mortgage or $1,600 without one. No need to post ads and low taxes thanks to the area. That could have been me! Instead, I bought Property 4 with will make an average of $650 a month.
Smalltown is moving forward and I can’t be left behind. It brings a smile to my face when I see new businesses and construction going on all over this place. I may have missed a golden opportunity with the 4-unit property, but there are others out there. When I’m ready to buy the “big property” next year which will signal the end of paycheck work, I won’t be looking primarily at expensive properties in the “white areas”. Based on what I’ve seen, I can make much more money in the ever-growing immigrant neighborhoods. And in the current social climate, I think I’d prefer it that way.
P.S.: I’m trying very hard not to call the purchase of Property 4 a failure, but this post makes it very hard. I mean, I could have made twice as much money with that 4-unit AND gained a greater reputation in the Nepali community. And I would have only had to use $30,000 instead of the full $55,000, leaving me with $25,000 that could've been used for another property or for trading. There’s no doubt I missed a great opportunity, but I can’t dwell on it. I purchased a property that will make me less money, but at least it’ll make me money. Mistakes that make money allow me to try again and do it right the next time around. I can believe that, right?
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