YAY, I bought my first "buy and hold"!

[Jerryll Noorden]

So I bought my first buy and hold for 5K. Repairs needed.. if I do it cleverly, about 10K.

the rent there is 900- 1200 per month.

But of course there is also a bad.

It is in a not-so-good area and the house needs work. But hey.... what are crazy adventures for right?

I will need help from you guru's with this one though!

So you will ask. No way the rehab is just 10K.

Well my little silly bunz, I am hoping I can expose the brick and leave electrical in metal conduit, making this the very sought after "industrial  look".. much like .. so:

I just not sure if the inspector will let me get away with this. I look like a bonafide jungle creature..so maybe he will have pity on my monkey butt fayce.

How did I get this you ask?

Well you see...

many many people asked me how the heck I got this deal as everyone wanted to buy up these (town) houses as apparently they are gold mines I am now told.

Well my silly muffins... ranking one on google will get you these deals! ^_^

While everyone was busy trying to find the owner, the owner was busy finding me 

:P

[Jerryll Noorden]

Originally posted by @Jolene P. Neal:

Jerryll Noorden just curious... you said the area isn't so great?? Do you have comps for similar properties in the area?

 The comps show the market value is about 45 to 52K

It is just in a bad city. But to me it does not matter. section 8! 

if I put in about 10K in, within 2 years I will have gotten all my money back. If I make a mistake.. heck I lost 5 K. Not the end of the world. I just need to be very careful with the rehab. I keep wanting to go overboard. I have to keep telling myself.. NO! Bad Monkey.. NO!