Is anyone buying under 15k for cash flow?

Question

I am interested in hearing from investors buying homes under 15k and holding on to them for cash flow.

What areas are you doing this in?
What kind of properties? sfh,condo, multi, mobile?

Major rehabs?

Are you self managing or are you turning over to property managers.?

Typical rent roll?

Section 8?

Are you blanketig these homes after you have a certain amount?

Scott M. · Answer

What areas are you doing this in?
MIDWEST - THE RUST BELT - PARTS OF THE DEEP SOUTH (ALABAMA / MISSISSIPPI ETC)

What kind of properties? sfh,condo, multi, mobile?
SFH AND MULTI'S

Major rehabs?
I DO BUY SOME IN SMALL BULK PACKAGES (10 OR SO) AND SO SOMETIMES THEY NEED A LOT - SOMETIMES NONE.  THE QUESTION IS IF I DO THE REHAB - SOMETIMES I WILL JUST DO SELLER FINANCING AND LET THE NEW OWNER DO THE REHAB

Are you self managing or are you turning over to property managers.?
A MIX OF BOTH - MOSTLY SELF MANAGED BUT I DO USE MANAGERS IN AREAS WHERE I HAVE A LARGE GROUPING OF HOMES

Typical rent roll?
VARIES GREATLY FROM CITY/CITY STATE/STATE

Section 8?
I DO HAVE SEC. 8 TENANTS YES BUT HAVE BEEN DOING A LOT MORE SELLER FINANCING THESE DAYS - BUT I AM A HUGE FAN OF SEC. 8

Are you blanketig these homes after you have a certain amount?
MY GOAL IS GE THEM PAID OFF AS QUICKLY AS POSSIBLE SO NO - I PREFER TO OWN FREE AND CLEAR WHERE AND WHEN POSSIBLE