All Forum Posts by: Andrea Jones

 Thanks for the advice. I'm still several months away from taking the plunge...until then, I'm just reading the forums and asking questions as they arise :)

 Yes. Not sure on the condition, it has no inside pics. That listing was just an example of what kind of homes I'm looking at, I'm sure it will be sold before I'm ready to buy.

 Agreed. We have structural issues with our current home (lesson learned) and definitely will have a knowledgeable inspector give the all clear before investing in a property.

Lots of great tips and observations!

It's true, I am a complete lay person when it comes to real estate investing.

Plan is, start asking lots questions now, and gleaning all the info I can until I have the cash to buy which would not be until this coming summer, maybe even fall.

I don't want the investment to become a hardship if it fails or has more hiccups than anticipated. Which means I would need the capital to purchase the property, repairs, taxes, and whatever other incidentals there would be without dipping into our family budget.

This would be an example of the price range I've been looking at MLS :

3666424

I'm this this type of wording in several of the listings:

-Bank Owned Sold As is w No Disclosures--All Info is Approx--Contact agent with any questions-

Is this a red flag, and I should run the other way? I understand as is, however, this 'no disclosure' is concerning. I'm imagining the worst...like a murder suicide occurred, poltergeist or glued down shag carpeting lol.

Nice to see a local! 

Can you expand on point of sale inspections?

The area is Cleveland Heights, Ohio, if any locals check in. 

Thank you, Mike, for weighing in!

Most seem to be 3 bed, 1 or 1.5 bath, then walk up attics that could be office or sleeping space.  Differences in price are more for the updated homes, and likely different area's of town.

The houses I'm looking at look like cosmetic fixers....paint, new cabinets, landscaping, etc. My hubby, sons and I are all pretty handy and can do that work on our own. I'm not giving the others a second look...no wet basements, shifting foundations, or other obvious problems. 

I've recently started researching properties to buy with cash, and use as rentals, then (possibly) selling if the market increases enough. However, it seems like I'm missing something. 

The area I'm looking in has larger historic homes for $10-$15K. The area is somewhat sketchy, so I'm sure that explains the low prices. But rental prices on realtor.com are showing from $800 to $1,300. Am I missing something obvious? Even after purchase price, taxes and maintenance, it seems like the profits would be really good!

This city is near universities and teaching hospitals, so I think the demographics are also in my favor. Are med students a good choice for renters. Or would I be better off with section 8 families? And speaking of section 8, why do so many landlords shy away from accepting it, if it's guaranteed income?

Lastly (for now lol), I would like to use a real estate company to manage the house(s). Any big negatives with that?