Neighborhoods can be hot or cold, they can be on the way up or the way down.  When you are ahead of the curve you can realize large gains with little competition.  When you are late to the party you most likely will have to work a lot harder & most likely will have to be on your A-game in order to realize a profit…

here is a quote from the article below demonstrating how fast things can change

“Sergi has been investing in Trinidad since 2009 and the price of his flips has doubled from $200K to the mid-$500,000s in just those four years”

http://dc.curbed.com/archives/2013/11/how-will-redbrick-bring-people-to-trinidad-its-in-the-details.php