#AskBP 092: Should I Invest in $30,000 Houses?

by | BiggerPockets.com

Yes, it’s possible to buy houses for as low as $30,000. But is it always a good idea to buy the lowest price property? That’s the question Brandon tackles on this episode of the #AskBP Podcast. Brandon shares his own story of buying a low priced property that soon turned into the “Hell House.” You’ll learn when is the right time to buy cheap – and when you should quickly run away!

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About Author

Brandon Turner

Brandon Turner is an active real estate investor, entrepreneur, writer, and co-host of the BiggerPockets Podcast. He began buying rental properties and flipping houses at age 21, discovering he didn’t need to work 40 years at a corporate job to have “the good life.” Today, with nearly 100 rental units and dozens of rehabs under his belt, he continues to invest in real estate while also showing others the power, and impact, of financial freedom. His writings have been featured on Forbes.com, Entrepreneur.com, FoxNews.com, Money Magazine, and numerous other publications across the web and in print media. He is the author of The Book on Investing in Real Estate with No (and Low) Money Down, The Book on Rental Property Investing, and co-author of The Book on Managing Rental Properties, which he wrote alongside his wife, Heather. A life-long adventurer, Brandon (along with his wife Heather and daughter Rosie) splits his time between his home in Washington State and various destinations around the globe.


  1. Your rental from Hell sounds like a Duplex I once owned, purchased it and total restored it and the tenants trashed it in six months, Many terrible tenants later I dumped the house for a lost of ably $10,000 but oh what a relief it was!

    • Brandon Turner

      Hey Wilson, that’s actually pretty great advice! What I ended up doing with my Hell House was gave it over to another property manager to deal with. So far, it’s okay… but they don’t mow their grass ever and the PM doesn’t seem to care. So I have to continually harp on the PM now. Oh… hell houses!

  2. Esteban Maroto

    Hi Brandon, you said you preferred $100.000 houses, but how do you get there? I mean, how do you start buying houses worth $100.000 if you don’t get some $50.000 or less houses to start? Even if you sell them later?

    And other question: I have an offer to buy a house with a little apartment which both costs $55.500 in downtown area of one of the cities in my country. As far as I know it doesn’t need repairments because it was recently vacated. It is a low to mid class neighborhood, with houses builded 15 years ago. I think it is a good oportunity to start having a house for renting (due to its low price and low rental price), but some people say that it is not a good neighborhood and I could possibly have problems with tenants… What do you think about an option like this?

    Of course I would like to get to the $100.000 houses, but what other paths are there?

    Congratulations on your success to build this Real State Investing Network. I am really happy to be part of this.

  3. Edward Synicky

    Its like everything in life, do your due diligence and lower your risk. I purchased a $32,000 house in Toledo Ohio 5 years ago, cash as few conventional lenders will lend that little. It rents for $625 a month and has been rented to the same family with a few minor repairs. Essentially I almost have a free house at this point. I didn’t buy this home for appreciation as there is little of that in Toledo, I simply purchased it for the cash flow that I spend each and every month enjoying all of my passive income from real estate. I purchased it from a local Toledo Broker/investor with a long track record of success. I did not remove all risk but I reduced the risk to a minimum. So at the right time of your life and with the right partner, purchasing “cheap” houses can be very profitable and not that risky. If you have made a mistake then just liquidate and move on. You get rich in real estate by making more right choices than wrong choices, in the end you win. Mistakes are just part of our investment experience and everyone we make leads to a better decision the next time.

  4. Ben Leybovich

    OK. So, I could be wring, but that almost never happens 🙂 And with this in mind, I do believe that Ben Leybovich would have been best qualified person to answer this particular question and record this podcast.

    Yous was a nice effort, but…

  5. Lisa Phillips

    The answer is YES, if you know what the HECK you’re doing! A lot of people dont know what their doing, but many people do. All we do is teach is sub30k and you have to be as thoughtful and methodical in this price range as any other. That’s it. Its actually easy, and we’re cleaning up. However, if you’re uncomfortable with any demographic, stop just looking at the money and measure your own comfort level. Im just surprised they are still asking this question since its been definitely validated, taught (my profile) and discussed in detail.

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