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.
Real Estate Investor · Saint Petersburg, FL · Member since 2013 · 1k+ posts · 951 votes
12y
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+.
Investor · Middletown, NJ · Member since 2008 · 2k+ posts · 1k+ votes
12y
We bought a condo in FL for $42K three years ago, short sale. Put in about $1500 in cleaning and cosmetics, and rented it for $915. It's under contract to sell for $79K.
I'm curious what the time limit is in CO, here in PA the time limit is 21 years, so its along wait for the cloud to vanish. I think there is one state that is 30 years.
I have 4 Quiet Titles in process now, one is deceased, one can't be found, pretty sure we got good addresses for the other 2. Almost all are uncontested and costs about $2,000.
Investor · Belton, TX · Member since 2013 · 47 posts · 9 votes
12y
$5000 sold for $34000 after the redemption period.
Biggest Profit was one for $95K sold in 6 months for 190K Builder went under had 3 new houses up for auction we bought 2 friend bought the other. Got to Love Real Estate.
Rental Property Investor · Buffalo, MN · Member since 2010 · 511 posts · 92 votes
12y
My cheapest house to date was 15K for a duplex and it was far from move in condition. Now thats pretty expensive compared to some of the other post here.
Houston, TX · Member since 2011 · 673 posts · 360 votes
12y
Awesome Stories here. Cheapest so far has been $8k, purchased from a very unpleasant owner and an unscrupulous agent and fellow investor attempted to snake me on the deal. Thankfully I recorded the contract with the county.
Sold the property as the old owner was driving away for $21k to a family that rehabbed it and rented it for $700.
Getting close on one right now for $3500, Should be able to sell it for $20k or so.
Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
12y
Here are the prices (left side) for this months local tax lien auction. Yes they all need rehab. We had an associate buy one for <$10k, & he had a "rehab for $'s graduate" offering $15k if he holds.
Investor · Baltimore, MD · Member since 2013 · 205 posts · 44 votes
12y
My cheapest house to date was $2k. Havent started rehab. Probaly spend $10k to $12k and rent for $900. Valued at $65K when done. Is rentable now for about $700. Has new windows, good gas furnace, water heater, and the roof doesnt leak. Biggest cost will be digging out basement.
Investor · Baltimore, MD · Member since 2013 · 205 posts · 44 votes
12y
My cheapest house to date was $2k. Havent started rehab. Probaly spend $10k to $12k and rent for $900. Valued at $65K when done. Is rentable now for about $700. Has new windows, good gas furnace, water heater, and the roof doesnt leak. Biggest cost will be digging out basement. Property was a foreclosure.
Specialist · Grand Rapids, MI · Member since 2012 · 583 posts · 353 votes
12y
I've had a number of vacant lots offered to me for free before (though they were usually such odd pieces of land, they weren't even worth the trouble). The cheapest actual HOUSE I've ever had under contract was $558. It was a pretty nasty building.
Involved In Real Estate · Palm Springs, CA · Member since 2011 · 144 posts · 78 votes
12y
I didn't buy the deal, but I did represent the buyer of three houses in a development in Houston, TX for a total of $69,000. All three properties had been foreclosed on by the same bank; 2 of them were three bedroom, 2 bath properties built in 2007, and the third was a 4 bedroom, 2.5 bath house built in 2006. The four bedroom was pretty much rent ready (needed cleaning) and the other two needed a total of $40K in repair/make ready (construction was never fully finished). The buyer ended up renting the properties out at $950/month for the three bedrooms, and the four bedroom for $1,150/month.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
12y
$1,350 for two (2) view lots in Chino Hills, CA. Bought at HUD auction. Lots were unbuildable due to the town homes lost during landslide after El Niño rain season.
Let them both go to tax sale some years later. Sale price for both totaled over $132K. After deducting defaulted properties taxes, netted a little over $125,000.
I notice your company is the Suburban Group. Are you familiar with the Suburban Auto Group Trunk Monkey ads? If your not you need to search You tube for them - very funny. - Ned