Is there's any properties move in for 65K out there

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Is there's any properties move in for 65K out there

Terry Miller
New Yorm · Member since 2018 · 10 posts · 1 vote

I am looking to purchase my first investment property in the range of 65K move in ready to put a tenant in it. Is it possible?

Terry

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Damaso Bautista
Rental Property Investor · Hawthorne, CA · Member since 2018 · 655 posts · 900 votes
5y

@Terry Miller

Is that the only criteria you have? I am sure you can find a $65K home that is move in ready somewhere in the US. 

The question is are you willing to buy that house if the market rent for that house is only $400 a month.  

or is your question, is there a $65K home that is move in ready in a market where I will make money in either cash flow or appreciation.

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  • Dan Maciejewski
    Realtor · PInellas County Largo, FL · Member since 2016 · 902 posts · 810 votes
    5y

    Depends on your market and the tenants (customers) you are trying to attract.  

    That's not possible for me in my market but yours is probably different.  If I was willing to own farther away, I could do it.

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  • Prestin Sokoloski
    Duluth, MN · Member since 2020 · 31 posts · 12 votes
    5y

    @Terry Miller I'd say you may have to look into some smaller towns. In my area I can go about 60 miles to a town with 18k population and prices for move in ready SFR's are 1/3rd of prices here. The sacrifice you may have to make for a property like this is the tenant behavior.

    It most definitely is possible you will just have to find the right area and screen your tenants well!

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  • Damaso Bautista
    Rental Property Investor · Hawthorne, CA · Member since 2018 · 655 posts · 900 votes
    5y

    @Terry Miller

    Is that the only criteria you have? I am sure you can find a $65K home that is move in ready somewhere in the US. 

    The question is are you willing to buy that house if the market rent for that house is only $400 a month.  

    or is your question, is there a $65K home that is move in ready in a market where I will make money in either cash flow or appreciation.

    1Reply
  • Terry Miller
    OP
    New Yorm · Member since 2018 · 10 posts · 1 vote
    5y

    @Prestin Sokoloski ok thank you for the advice.

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  • Terry Miller
    OP
    New Yorm · Member since 2018 · 10 posts · 1 vote
    5y

    @Damaso Bautista Well if I make $400 a month after all bills are paid sure.

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  • Damaso Bautista
    Rental Property Investor · Hawthorne, CA · Member since 2018 · 655 posts · 900 votes
    5y

    @Terry Miller

    Do me a favor watch Brandon Turner's youtube video. Then once you learn how to analyze rental properties you will be able to better determine if a $65K house is worth buying.

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  • Sisee Adams
    Rental Property Investor · Member since 2018 · 21 posts · 9 votes
    5y

    Here is a listing that is close to $65K in west Washington state. It is near Brandon Turner's former home

    https://www.redfin.com/WA/Hoqu...

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