Foreclosure and a Triplex - good deals or no? (with pictures)

[Beth Teutschmann]

Hey everyone! I am a total newbie at real estate investing. I've purchased 1 house, the house I live in. I have, however, a somewhat close relationship with the landlord I've rented from for the 8 years previous to buying my house, so somewhat familiar with the in's and out's and frustrations of rental properties.

I'm just getting my toes wet and listening to YouTube videos, podcasts, reading content on the site, etc. And thought maybe I would jump in with a couple properties that to me seem like they could be good deals, but obviously being a newb not really sure lol. 

There will be unknowns with both these properties, but I'm at the point where I don't even know what to look for (or am slowly learning) or what questions to ask if I did approach the current owner/realtor/etc., and I figured a great way to learn would be to just jump in with a couple example properties instead of using hypothetical properties.

House 1: https://www.redfin.com/WI/Eau-Claire/430-Ferry-St-...

Well-maintained tri-plex. Lower unit is 3 bedrooms; upper units 1 bedroom each. House and garage roof 4 years old. Large lot, almost one acre. Tenants need day before notice. Seller pays water & garbage for all units and heat & electric for Unit 2. Total rents $1,895. Details and images on link. Don't know much about this neighborhood in terms of quality, but as far as I know pretty average.

House 2: https://www.redfin.com/WI/Eau-Claire/862-E-Grand-A...

Foreclosure. East Hill home (which is a good neighborhood here, though this is the less-nice part of that neighborhood in terms of home quality) with hardwood floors, partially finished walkout basement and located within blocks of downtown Eau Claire and Parks. Details and images on link.

I picked the triplex because it's a multi-family home that lists what the current rental income is, and it's been on the market for 147 days so chances are the seller would be willing to accept a lower offer.

I picked the foreclosure because it was one of the few foreclosures in the area that had a price listed, and because of the low price (though obviously I know price does not equate cost). This would become a rental home as well.

Any insights on these? Yay or nay? Things to consider or anything with either property that stands out? Or under what circumstances/dollar point would they be a good deal?

Thank you for the time to anyone to takes a moment to look it over and respond, it's sincerely appreciated.