What can you do with $75,000 ???

[James Wise]

I just came across a thread where people were posting pictures and some background on rentals that they owned that they spent less than 30k on. I liked the thread but I wanted to expand on it and bump the price range up a bit to open it up to more stories.

I'd Like to see some pictures and stories about a Rental Property you own that you are all in for 75k or less.

I will save on of the mods some time. Remember this is not the marketplace. Do not post anything that you are trying to sell right now. This is not the forum for that. I would just like to see success stories of what you bought in your investing area and a little background about the investment.

I will start.

I picked this up for 50k. It was owner occupied. The brother of the owner was renting the downstairs when I bought it. He is still there paying $500 a month. We fixed up the upstairs. put about 4k into it (including appliances). Just got that rented for $854 a month. Will be fixing up the downstairs when the brother moves out. I expect to rent the down for about the same price.

[Blake C.]

James Wise exactly. My first deal was more of a home run. This cash flows about $250-300 with 25% down. My second deal was more of a home run ($350 cash flow on a 48k investment). After looking for 10 months for another home run, I decided that solid doubles are good enough for me.

Ive heard other talk about you next deal always being better than the pervious. I'm not sure that's always realistic. I think staying in the game, making profitable deals, and getting better at managing the deals you have is more of my philosophy. Money can be made on the church, but profit can grow with great management.