Quote:
Originally Posted by Barry-xlovecam
Ok. then i wasted words -- misunderstood.
Anyway that is the way we did it. Also buying HUD nightmares. We once bought a house with a collapsed roof for $3K from HUD.
Run an ad on craigslist (free) that you want to buy distressed rental properties.
We bought 18 units cheap that way 5X gross as I recall (that was years ago) --- went there after the Sheriff evicted everyone, with guns in hand, and changed all of the locks. Took some time to clean the shit out of the bathtubs, rehab and re-rent to new tenants.
Building stabilized with paying tenants -- we sold that building at a nice profit.
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Wow you sound like my kind of guy. I always thought you were some leftist scumbag. I must have mixed up your name with some other asshole- I am so terrible with names!! Especially internet forum ones.
Believe me or not you can buy trash holes with good bones for around that 3k around here at times. You would not believe this town. I think the reason you can buy places so cheap is because of fucktards like I
just as I type heard stomping down the stairs here at 3:29 in the fucking morning
People get sick of renting to these subhuman garbages and then give up
That can also be a good way to acquire properties- from morons who rushed into properties and lost their whole ass and then went off saying how terrible real estate is and what a horrible investment it is
Does 5x gross mean you paid 5x the gross rent or what?
Sorry, I know a LOT about this(I've had several lady friends who were realtors/investors and I've been closely acquainted with several people who are similarly involved and I've done a lot of reading over the years and I took realtor classes where you actually DO learn a LITTLE if you pay attention - none of which is ANY substitute for actual reality experience at all), but I am still learning some things
What I will hopefully be doing is renting to fucked up people - they are quieter, more thankful, and less garbagy. Plus, when you rent to them, they generally always have stable income through the government without being garbage trash like the able bodied locust relation scum bags who live here in this place