All Forum Posts by: Mary Jay

A lot of people on this forum are very smart and good at investing. People know which town looses people, where economy is growing, etc... I would like to learn it and was wondering if you please would be so kind and share what websites you use to figure out if population is declining...Or economy in this or that area is growing...

IS there any website that I could get that info from? Thank you guys so much in advance!

Interesting...You guys are broadening my horizons...Never thought of it that way. Always have been told that newer houses are better product vs older houses...

 You are so sweet! Thank you so much for your kind words and support! I really appreciate it! :-)

 I guess my though process is this: if I buy a 100 year old house, how long will it last? 20-30 years? may be 50? Will it last another 100 years? Probably not..

If I buy a 30 -40 year old house, it probably will last me another 100 years with more probability vs if I buy a house that is 100 years old already...

Am I right?

I have an old house (built in 1920) and two homes built in 1998 and 2003 (I think)

Never had any issues with any houses. I did have to put a new roof on an old house though because I was worried it may start leaking, and it cost me 2K...

Other than that no problems.

But, despite my good luck with my "old-ie" I have always been scared to buy old houses (By old I mean 50+ years old).

I thought I should focus on buy and holds that are less than 30 years old and cost around 100K and rent for 800$-1K...

But lately Ive been seeing a lot of people doing 30-50K older houses and rent them for 500-700$

1) What do you guys think? What is better?

2) Someone I know buys 30K houses and redoes plumbing, electrical, etc which will be another 20-30K and then he rents them for 700$...My concern is, when you buy a house that is that old, it is probably possible that the rehab may be around 100K, not 20-30K....Even if a house does require 20-30K rehab such as electrical, plumbing, etc, what are the chances that structurally its good and sound? Plus foundation....I don;t know...

What are your thoughts?

Thank you guys big, big, big thank you!

Thank you guys so much for helping me out!

Its very kind of you!

Fear is my biggest stopper :(

If it was not for fear I would of been rich today

Thank you guys so much! I really appreciate all your help!
I think its getting more clear in my head and I dont feel so torn anymyre...

Thank you all so,so,so much!

 How do you calculate that? Lets say you put 10K down on a 100K house. Do you expect rent to be 1000$? Or if you want 10% then you would charge 1100$? Or how do you calculate 10-12% a year?