In answer to your question, JACKQLYN, I think “cash” investors are willing to invest in whatever makes sense after the repair/rehab numbers are run. This property may or may not be in a first-time-buyer neighborhood. If the investor is looking for rental properties, it may be in a FT-buyer neighborhood. If the investor is looking for a principal residence for their own families, then depending on their expertise in rehabbing, they are more likely looking for a deal in a move-up area. If the investor is looking to flip, they could be looking in ANY area that would make sense financially, given the amount and cost of work it would take to get the property back on the market and the amount they felt the seller would accept.
