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Old 10-19-2019, 02:37 PM   #34 (permalink)
Zeus of the Sluice
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Join Date: Aug 2005
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Location: Mt. Vernon, IL
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Originally Posted by 2big bronco View Post
Is there a really good and really bad side of town? Looking at houses for sale there it looks like there are some $30k houses that dont look much different from some $200k houses.

How much are property taxes?
Yes, Pretty much everything on the south side of broadway and east of 27th is the problem area. Some cheap houses in there if you don't mind dealing with the people that want to live there. Where I bought is an older side of town, not very desirable, but quiet working class neighborhood. Lots of older houses, some in disrepair and some that have had a lot of money put in to rehab. Had flooding earlier this year and a lot of the houses near this house got condemned and are due to be demolished by the city, Mine is on top of the hill so less neighbors to deal with. This house went fast, only on the market 4 days since it was put up on Friday of a holiday weekend. I paid a little more than asking price as a cash deal since there were multiple offers. Sounds like I will get to close a little sooner than the 30 day mark so hopefully will be getting into it soon.

Originally Posted by gregj50 View Post
Get yourself a good PM!!!! Especially if your gonna buy more!!!! They always get more
$$$ for rent and you’re detached from the tenant..... can go in and do repairs and just act like the handyman!!!!

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I was warned about the local PM companies that they will put anyone in and take their cut not caring on how they will treat the property. I'm good friends with a local Realtor that has a lot of rental properties. I'm taking his advice on how to proceed.

Edit: Prop taxes are about $840/yr not bad, not great.

Last edited by Juztyn00; 10-19-2019 at 04:54 PM. Reason: adding
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