PAF
Member
- Joined
- Feb 26, 2012
- Messages
- 12,066
I knew someone who bought a HUD house for a dollar. Had to bring it up to code. He is a carpenter and did a great job. Didn't save the neighborhood, though, because it was hood and still is. My bf and I lived a block over with crack hoes across the street and kids in diapers out at midnight. Lost cause.
So, it sounds like you're in the "rust belt" and I can see there being a lot of abandoned homes. Maybe whole towns. Gary Indiana probably has tons! I think getting involved in taking on any kind of property like is for people in their 20s because it's so much work.
Yep, good ol' rust belt, not long ago one of the few places where one could buy a nice home cheaper than a car lol.
A close friend of mine (who used to post on this forum) bought up a few homes on the very cheap in the Youngstown area, remodeled them and rented them out. It was a decent profit for a while, but he since sold them and kept one just to have. Opportunities are there in the dive areas if one is willing to wait for the rebound, but, that's not for me.