I'll start. I bought a house that was a three story brick house with a new roof and new electrical service for $50 full price with no debt on the property. The house needed everything except a roof and electrical service. I didn't do any work and wholesaled it to another investor for about $2,000.
My cheapest was $11,000 which I bought 2 years ago. It's been rented for $750/month after about a $5k rehab. I've actually bought 5 properties for $11,xxx and they all rent for $700+.
I'll start. I bought a house that was a three story brick house with a new roof and new electrical service for $50 full price with no debt on the property. The house needed everything except a roof and electrical service. I didn't do any work and wholesaled it to another investor for about $2,000.
$50 is cheap! I spent that much on a light fixture today.
Me? 9500. Put 12000 into rehab and sold for 42000.
My dad wanted to buy a lot beside his that had been foreclosed on and was 2 different lots the one he wanted and another with a house. He offered $4,000 dollars for the lot and they excepted it. The next time taxes were due he got one for the house as well. He went to ask the tax office about it and they said that they didn't make mistakes and he had to pay the taxes on it. He deicide to take a look at the house on the inside and put $1,500 in it and has been renting it out for about 5 years at $500 a month.
My cheapest was $11,000 which I bought 2 years ago. It's been rented for $750/month after about a $5k rehab. I've actually bought 5 properties for $11,xxx and they all rent for $700+.
My cheapest was $11,000 which I bought 2 years ago. It's been rented for $750/month after about a $5k rehab. I've actually bought 5 properties for $11,xxx and they all rent for $700+.
My cheapest house was $4,000. I sold it the next day for $10,000. The cheapest house I currently own was purchased for $4,800 and I put another $1,200 into it. It's been rented for the last 4+ years for $525 up tp $590.
I was once offered a house in the war zone for $50, but passed. There have been houses sold for as little as $1 there.
My cheapest was $11,000 which I bought 2 years ago. It's been rented for $750/month after about a $5k rehab. I've actually bought 5 properties for $11,xxx and they all rent for $700+.
I have only purchased three so far. The cheapest was $40,000 for a foreclosed two-bedroom, 1-bath townhome with no HOA. I thought it was brilliant at the time and it still cash flows $200 a month. However, I'm now looking in the $25,000 to $35,000 range for a single-family as my next purchase. Bigger Pockets pockets has really impacted my criteria for a "good" rental property.
My cheapest house was bought this year was $27,000 but it was a triplex. They rent for 200$ each, but since they are not separately metered on gas or water they only net about $100 per month total, but they are on a 10 year note. I partnered with my handyman on the condition that he did all the maintenance and property management. Little does he know I am grooming him to be a property manager.
I paid off the back taxes on a SFR from an out of state owner (inherited). I paid around $2,800 in total and put about 17k into the property. It rents for $565/month with all utilities paid by the tenant.
The lead came from PropertyLeadsNow which I believe is now Zbuyer. It was an old, dead lead that I hounded for probably 6 months or longer.
2 cents. Bought it at a foreclosure sale. A deficiency bid obviously. Opening bid was 1 cent. Normally they require a minimum $1 overbid, but they made an exception because the opening bid was only a penny. In addition to the penny there were about $100 in Deed/Recording fees, and of course it was subject to current years property taxes. Rehab costs were about 5K. I can't sell it because of a cloud on Title. But I have been renting it out for more than two years now netting about $700/month.
Usually a cloud can be remedied by either a Quiet Title Action or a Quit Claim Deed from the former owner. And in some cases the cloud can age and go away on its own. The time limit is set by state law and can vary between 5 and 30 years.
Usually a cloud can be remedied by either a Quiet Title Action or a Quit Claim Deed from the former owner. And in some cases the cloud can age and go away on its own. The time limit is set by state law and can vary between 5 and 30 years.
lol. A quiet title action would probably provoke a defense (don't wake the sleeping giant), which at best would cost me $30,000 in attorney fees, and at worst would cost me title to the property. I am perfectly fine waiting it out, and pocketing the rents, for another 4 years or so till the cloud clears, it is almost certain to increase in value, by then it will be worth $150,000 or so.
About 2 years ago I bought a house in Cathedral City, CA for $100. It even had a tenant in it. I wholesaled it to another investor on an agreement where he would rehab and flip it, take the first $10K of profit, then we'd split the rest 50/50.
Come to find out he gave it to his friend's girlfriend and she rehabbed it and kept it. He thought it was great since it is her first rental house. I'm still trying to figure out how I'm getting paid. I'm also never selling him a house again.
I paid $105K for a $195K house. I borrowed $120K against it. Spent about $10K on rehab and rented it for $1550. So, in this situation, I actually got paid to buy the house and it cash flows a few hundred dollars every month. I'll take this deal over the former deal any day.
hello every one, cool place for my first post. To date I have bought and lived in 2 house, then sold. However while in my first one. I found a mobile home park that had just changed from owner only to tenants allowed. Community rule was no one under a certain age. So I took the gamble, At age 19 I was a landlord, I loved it. so the deal went like this. cost of home 12,000 on mortgage at 350 a month. lot rent 350 a month. new heater I think was 8 or 900. tenant paid all other bills. I bought this trailer in 99. paid off by 01, sold to current tenant for 16000,
not to exciting profit wise, but it was really fun. and I would like to do it again. although this was a once in a life time deal. every thing lined up. as if some one else was pulling the strings. easy quick and smooth. I have had the bug since.
$FREE.99. (that means I paid nothing for the home) 3 bedroom, 2 bath 1991 manufactured home. Moved it to a lot I purchased for $6,000. Remodeled, new septic system. $50K all in. Appraised for $125,000. Rented it for $1,100/month.
We bought 1500 acres of adjoining farm land (desert) back in the dark ages for $5/acre. My sister restored the old limestone block home on it as a bunk house. The original wood burning kitchen stove was 6-8 feet long & she used the larger oven to warm newborn lambs that were abandoned by their mothers (her husband was a Vet).
Years later when we discovered artesian water the price of the land certainly went up.
It was in South Australia, Flinders Ranges 1963. 5 acres to feed one head until we drilled for water as droughts could last for several years.
Because of the geo-thermals the water would come out of the ground warm enough to shower in & you had to remove the hard water scale from the shower head constantly.
The windmills would pump the water & also generate the power to charge our household batteries for power.