What is the Cheapest Real Estate You've Ever Purchased?

[Brandon Turner]

What is the cheapest piece of real estate you’ve ever purchase?

[Wendell De Guzman]

Your markets are all expensive (LOL).

I bought a house for $1 in the Southside Chicago. It was a 4 bedroom house up for demolition. It was so bad the bank actually deeded the house back to the borrower after they foreclosed on it.

Sold it for $3,000 and I gave $2,500 to the seller because he needed to pay the water bill on it so he can get the deed to the new owner (because the city will not allow him to deed the house to a new owner unless he pays off the water bill). He was broke and he just joined our Acquisition Team so I decided to help him.

So technically, I bought it for $2,500...I guess. And yes...I only made $500 but I was able to help someone in the process and he is now an earning and loyal member of my real estate team. In fact, our closing 2 weeks ago that netted us $20,290.60 came from him.

Here's the picture of the property.