Well I have finished Dean's book BARM and have read about four others. I lucked out and saw about the last 20 minutes of his show about his new book. I have not read that one yet.
I am what you would say a part time investor. I have a full time job and that takes much of my time.
Feb 02~Called my realtor and got listing of 3 properties I was interested in.
Feb 03~Called realtor and made appt with her to look at properties Sat.
Feb 07~Got to look at two of the three properties as the 3rd one was still being cleaned and not ready for people to look at.
Well The first one was a bank repo at $90,000 and is now the worst house I have ever looked at. Everything and I mean everything needed to be replaced. The only two good points were the wood floors were in good condition and the windows were vinyl.
Now this is where most people would have given up but I rememeber Dean talking about ugly houses which by far this is.
Water half flooded in the attached garage. Mold in the bathroom. Tile also there falling through the drywall! To much to list but I thought what about just knocking down the house and workshed and having a lot with city water and sewer hookup.
The second property on 2 lots and a HUD at about $46,000 with a 2 and 1/2 garage. The garage is in good condidtion but the modular is in bad shape. It sits close to a creek. Up enough where you would not need flood insurance. I thought the same with it also. Do away with the modular or replace it with a new one. Maybe even see about zoning it so I could build a duplex. Two apartment buildings sit on either side of the lot and thought it may not be too hard to get that done.
But I am thinking on this. Also another lead with my realtor listing a house next to my rental that is going up for sale at $99,000. A little high I think but will see what happens.