Not all cheap homes are in War Zones, about finding the gems

[Marisa R.]

Hi All

Its interesting, I have not been posting on this forum for very long, however I have noticed there is a perception that cheap/lower end price points (properties) equates to buying in war zones.   But is this really true? 

I am sure in some cases this could be correct.

 At the moment I have been targeting what I consider good bread and butter neighbourhoods that represent good value, where the numbers stack up, cash flowing, and where there is some upside. 

By this I am seeing the market tightening and buyers are jumping in which is driving up the demand. 

What does this mean for us.... BOOM

The idea for me is to hold cash cows for income and appreciation

Here is a recent buy, and the numbers...… zip code 48203

Purchase Price - 30,500

Rehab - $8900

Rent - $ 950 pm

Insurance - $50 pm

Property management - $95 pm

County taxes - $100 pm

Maintenance - $50 pm

19.94 net income

[Marisa R.]

@Richard Sherman

Thanks Richard, agreed.

I have a varied price range in my portfolio. 

These cheapies help me with my cash flow and allow me to create income streams.

At the end of the day its not just about bricks you cant live off this, you need cash flow.