Not ALL $30,000 properties are pigs, though many are....

[David Krulac]

Re: @Ben Leybovich 

Whether they are in Ohio or not!

Mark Twain said, "Don't argue with an idiot, people won't be able to tell the difference."  I don't think Mark Twain was Russian, though he did use an alias.

I don't specialize in $30,000 property, though I have bought some.

#1.  Bought property for $36,000, previous sale $108,000, needed partial roof repair, clean and paint, rent $895, already had new gas furnace and central air conditioning, off street parking, fenced yard and deck.

#2.  Bought property for $34,000, previous sale $95,000, needed minor repairs, paint and cleaning, rent $1,250, already had new gas furnace, new baths, new kitchen, Pella windows, appliances, floor coverings, off street parking, and deck.

#3.  Bought property for $32,000, previous sale $56,000, needed minor repair, floor coverings, paint and cleaning, rent $950, already had new drywall, new windows, new siding, 2 new baths, new kitchen, off street parking, fenced yard, and patio.

What do these 3 have in common besides off street parking?  Well all 3 were bought for significantly less than their last sale price, and more importantly the previous owners had done extensive remodeling and improvements to the properties, for which I did not have to spend money.  I did not have to pay for the improvements, and if the properties did not have the improvements, I probably would not have purchased.

Many other $30,000 properties that I have seen needed $30,000 or more in improvements.  recently looked at one that had a 1928 kitchen, obviously needing some updating.  Or properties that needed all new roofs, or all new windows, or structural damage.  There were two properties recently that were involved in car accidents and needed extensive repairs.  Thanks, but no thanks.   And of course the location of the $30,000 is also paramount.