Prices have increased in East Palo Alto over the past year but still offer good investment opportunities.
If you can find a house under $200,000, it will need more than "some fixing". It will require a major remodel.
You can find houses in the $225,000 to $250,000 range that could be rentable with "some fixing".
I recently sold a fixed up 2/1 to an investor client for $265,000 and I have rented it for $1,795.
I just sold a "fix and flip" for a client. Purchased at $255,000 and sold for $309,000.
The profit margin on the fix and flips have gotten smaller over the past year so I think the "buy, hold, rent" approach is a good one.
At one point average price in East Palo Alto was over $600,000. Current average price is about $300,000.
So even if prices do not return to the peak (which I believe they won't) they are still good investments.
Let me know how I can help.