Homes under $30,000

[Lee Sal]

Hi there,

I am a 29 year old Australian looking to move over to the US to invest in residential properties. The aim is to buy properties under $30,000 with cash and lease out the properties for a positive cash-flow. 

My business partner and I should have around $100,000 between us to invest with. So we are hoping to purchase 3-4 properties to lease out. 

I have seen online many decent properties for sale under $30,000 in cities like Baltimore and Phoenix. 

Any advice on which cities to invest in?

I know in countries like New Zealand and the UK that it is common to rent out individual rooms within houses to gain the maximum amount of rent. Is this a renting culture that Americans also adopt? Perhaps around Colleges for students?

Any advice would be grateful 

[Nate T.]

I am a full time investor in Phoenix. There are almost no houses for 30k anywhere in the metro area, except burned out or gutted houses. Nothing in rentable condition. Of course if you are an active investor you can find a deal, but they are still rare in that price range.

I would be interested to hear from other investors around the country whether you can buy something decent in that price range. I've heard that the Midwest and South have some areas like that...