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Old 09-16-2019, 10:22 PM   #26 (permalink)
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How much is the lot worth?
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Old 09-16-2019, 10:31 PM   #27 (permalink)
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How much is the lot worth?


Gets it ^^^

Its a knockdown


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Old 10-15-2019, 04:26 PM   #28 (permalink)
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Well, the mold house has been bid up to 11,000 without an accepted offer, however this dropped on the market on Friday and they accepted my offer today.. It's another bank repo, Going to need some work but its structurally solid and in a quiet neighborhood, I'm jumping feet first into the rental business.
https://www.realtor.com/realestatean...-81815?view=qv
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Old 10-15-2019, 05:17 PM   #29 (permalink)
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Wow.

You couldn't even pay the rent on a 1 bedroom basement suite around here for a year for $10k.

I would be buying up rentals at those prices as well. Whats the job market like in the area?
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Old 10-15-2019, 08:23 PM   #30 (permalink)
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Wow.

You couldn't even pay the rent on a 1 bedroom basement suite around here for a year for $10k.

I would be buying up rentals at those prices as well. Whats the job market like in the area?
If you have a pulse and can pass a drug test, the tire plant in town will hire you. The job market isn't that bad here, got 2 major interstates running through here, lots of restaurants, Walgreens distribution center, Mine equipment manufacturer, Train locomotive restoration place, plus all the normal stuff a city of 20k has. This house should rent for close to 600 if I shine it up some. 2-3 year return on my investment sounds ok unless I fail at finding a good renter.
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Old 10-15-2019, 08:36 PM   #31 (permalink)
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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?
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Old 10-15-2019, 08:56 PM   #32 (permalink)
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congrats, i hope it works out
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Old 10-15-2019, 10:32 PM   #33 (permalink)
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unless I fail at finding a good renter.

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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Old 10-19-2019, 02:37 PM   #34 (permalink)
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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.

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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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Old 10-20-2019, 05:50 PM   #35 (permalink)
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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.







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.


I thought I could do a better job managing myself!!! Once I got PM involved I realized how bad a job I was doing!!!
It doesn’t make sense that they would just put anyone in there. Problem tenants are just problems for them. If there’s quality tenants in the area a good PM knows how to get them.... at least that is the case in our area!!!!


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