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Buying a house:
There's 10 houses in my area for between 15 and 25k. Each of them is 2 or 3 bedroom, 1 to 2 bathrooms, and of varying lot sizes. I'm trying to shy away from 2 story houses because 1 story roofs are easier to deal with myself, among other reasons. The rent in my area ranges from $500 to $650 for 2+ bedroom rentals. Property taxes and insurance in my area hover around 2k per year combined.
I'm saving 1k a month currently and already have 30k in the bank (401k is another thing entirely). My goal is to have 5 houses renting within 15 years. These houses generally have good roofing, foundations, plumbing, and electrical, although I do also have experience in 3 of these areas and feel confident about my ability to follow code.
Anyone else a landlord? I plan to keep these houses for an extended period of time; any tips on renovations that I'll be glad I did 15 years ago, whether I realize it or not?
Pic unrelated.
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>>2793597
any area where houses are that cheap now will likely be a ghost town in 15 years bro
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>2-3 bedroom
>25k
What the fuck lives there?
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>>2793867
this
it'll be a ghost town or some crazy hills have eyes people will start moving in
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>>2793597
What area?
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>>2793867
To the contrary, the population is only 6k in the town, but it's held as the state's population trended downward and is now believed to be rising. The area just brought in a new factory with 100 jobs and the city council is active in ensuring the area remains nice and ripe with opportunities.
>>2793879
Welcome to places that aren't in the top 50 population centers in America. It's about 15 minutes from a 50k population city. Move-in ready houses cost 60-90k, unless you're looking for something special. Nobody wants to deal with these houses, but I don't care if someone died in them; a deal is a deal.
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>>2793891
If you know where to look, you can find property that is ungodly cheap. I see homes within 15 minutes of hollywood for under 50k. The insides look trashed, but damn... I might end up selling a rental and start up in california in 10-15 years.
>>2793900
Northern Midwest. Winters aren't as harsh as the Northeast.
>>2793879
Nobody anymore, not in most of them. If you mean the town, that's pretty common. You'll pay a lot to live in the city, a chunk to live in the suburbs of a big city, and considerably less to live outside of suburbs.
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>>2793597
That sounds like a solid plan, anon. Keep it going!
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>>2793597
dont rent to section 8
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