Just bought #10! Rural Missouri

[Sylvia B.]

We went to an auction today and left with the winning bid of $50K!

1900 ft² 3br 2 1/2baths, family room & office in basement, 1 car garage, built in 1964, but upgraded over the years. Originally built as a parsonage for the Methodist church across the street. Their bylaws changed, and they had to move the preacher to a house farther from the church.

It will be 30-60 days before closing, so it will be a while before this thread is updated, but I was excited to share my good news. The only photo I have right now is this one from the auction ad -

We plan to paint inside & out, remove the garbage disposal, do some minor updates in the bathrooms, and trim up the bushes. The budget is $5K with another $5K for surprises.

We still have several unknowns. The house has never been on the tax rolls, so can only guess at the taxes, probably less than $500/year. We also haven't checked what insurance will be, but probably about the same as taxes. It should rent for $650/month.

[Sylvia B.]

Not sure, @Sam B. but I really think that if they had listed it with a realtor it would have sold for around $65-70K as it is. 

They wanted it over and done, and they didn't want to pay a realtor's commission. (The auction company donated their services.) They thanked us sincerely for buying it, and we were happy to get it at that price, so I'd call it a win-win!