Blown away at how cheap the house prices i am hearing on here.

[Jesse Phillips]

New to this site. Just a couple weeks. Been listening to podcasts and BP youtube videos. I Have always like real estate and owned 3 properties for 13 years. Until recently. Due to a divorce I have to sell my 2 rentals and split the profits with Ex-wife. Live and learn.

I am blown away with the house prices i am hearing on here. SOOO CHEAP!!!! $40,000 for a house? 4 plex for $45,000???? I live in Upstate NY and the prices here aren't crazy. But when I look on the MLS. There is 2 houses in the $50,000 range and they are complete gut jobs. Would have to put another $50K into them to even get them rentable. I don't understand how on BP I am hearing people focusing on buying $40K houses and renting them,. There is nothing like that in my area. There is plenty of run down homes but they still don't go for that cheap. I don"'t get it.

 Most house are probably $120k for a 3 bed room 2 bath. That would be cheap. I'm looking for something around $60k , rehab, rent and refi. Not seeing anything in that price range. I have lived here my whole life. Know everybody and the market. Just seems like in other areas that is doable. Maybe because we are not really a big city. Only @%K people and so there isn't a lot of fixer-upper houses with value.

I'm trying to get back into real estate, learn more, focus on a business model. I like the BRRR method, just trying to figure out how to do in my area. Might have to look into the bigger citys around like Binghamton or Albany. They are both an hour away I was hoping to invest locally.