Cheap multifamilies in the Midwest

[Adrian Mata]

Hi everyone.

I'm living in Indianapolis temporarily and I met a realtor yesterday at a wine tasting. After discussing my interest, she sent me a bunch of pictures of houses that are SOOOO cheap. I'm talking $20k duplexes and even as low at $6k. She said that they rent out for $500 each unit but I know I'd have to verify that. I'm just thinking that isn't that just a steal? I could buy them all cash and half the monthly revenue would be mine using the 50% rule. Right?

It's at least worth checking out right? It just seems too good to be true to me. If a house is $10k and gets $1k per month in rent, I'd pay myself back super quickly. I just feel like there's a catch. I'd appreciate any info or insight.

[Brian Feltz]

Adrian Mata Its not too far fetched. In Milwaukee you could be all in on a single family home for $25k and rent for $800-900. Dawn A. specializes in those types of properties! Obviously, some of the cheaper ones have losts of work needed to get rent ready, or come with back taxes or liens. Do your due diligence. But, those types of deals are out there, so dont NOT check them out because you think there's a catch. You'd be passing up money! :)