(about 11% ROI annually)Reconditioned the home for new tenant costing about $7k (new paint, floors, few upgrades, etc.)Rented it for 1 year to a new tenant at $745/mo.Reconditioned the home in between tenants for about $2.5kRented it for 2 years to a new tenant at $750/mo.Reconditioned between tenants for about $17k (these tenants were pretty hard on the home and it needed a new roof.)Rented the home for 5 years at $795/mo.Reconditioned the home for about $8.5kRented the home for 1 year at $800/mo.

Hello Everyone,I buy, recondition grandma homes, and sell them on a two year land contract in the Milwaukee, WI area. 

As far as you have said all they did was a title search.I hope they did not overpay for this property.You cannot pay on POTENTIAL or on what cannot be 100% verified.If you have tenants that have been no paying to half paying it could take months before getting them out and then you have to recondition and lease up.This is why if you can't verify something to be true you bid blind based on the worst case scenario.

I didn't withhold their entire deposit which I could have, but they did have to buy paint and all supplies for me to recondition the home to smell like a freshly painted home again.

(also agent asked me to raise purchase price $5k to help with buyers closing, and I did it)The lender told me Friday that they did not have a ctc yet and that it was just re-conditioned.

I have done a lot of upgrades and reconditioning over the last 9 years of ownership. ( new roof, new a/c , tile floors, new energy efficient windows etc... ) I am thinking about finishing up the remodeling with the cash from the refi, and using the rest on a down payment on a new house and renting my current house out.

Hi all, i would like some help on what to offer on a 32 unit complex (my first).The property is located in a very good area with much sought after school district, built in 1965, 12 two bed 1 bath, 20 two bed 1.5 bath, but current owner did many improvements including, windows and doors, metal roof, plumbing upgrades, repaving, pool reconditioned,flooring, cabinets etc. the only capex i could spot on walkthroughs was the 20 ac units not replaced(recently).

Sec 8 is probably willing to pay $850 for it (all cold flat prices), but I'm sure it would need some reconditioning, should he leave. 

My benefit would be less turnover, less agent fees, less gaps in rent, less reconditioning costs for new tenants, that would easily add up to $2000-3000 vs $1200-$1600, but most importantly less stress and risk of getting a bad tenant.  

For basic houses like this I'll just throw out the idea of reconditioning the existing counter tops with stuff in a box for about $200.