Wholesaler · Anderson, SC · Member since 2015 · 34 posts · 23 votes
I can potentially work out a no money down deal on a house that I can get for 40k-45k (Appraised value) that will rent for 600-650. There is a high voltage electric tower directly in the back yard and the neighbor across the street has about 10 rebel flags in his front yard and hanging from his gutters.
Personally, these things don't bother me too much, but I can see how others might be offended.
It's quite well known, especially with the actions a few months ago, that the Confederate flag is considered a racist symbol.
The neighbor having 10 of them hanging in front of his house shows his racism.
Whether you want to take it on as a rental property , I think, can depend on what the neighborhood is like. Is it predominantly white? Then maybe mostly white people will inquire. If it's mixed or attracts a lot of black people, then I would pass it by, because you'd likely have a difficult time to find tenants, who would feel comfortable there.
And everyone, forgive me if I missed this in someone else's post, but aren't you all missing the most important fact? I'd say 80% of the posts on this thread have advised Justin to not buy the house. Most point to the racist neighbor. Some point to low rent for the price. I see another perspective. Justin, assume 80% of the people seeing this house are scared off by the guy next door. Now, you have a big bargainning chip with the seller. Print out this thread and show them. Instead of offering 40 to 45K, tell them you will offer $25K cash, close in two weeks. Now you have a house you paid $25K for, and a weird neighbor yes, but you will get a renter, and have that sucker paid off in no time flat. Talk about a big cash on cash return. Don't let feelings rule you....fear and greed are to be avoided. Let the numbers dictate.