4 ms·

Or 10 reasons why it is a great time to buy a cheap house. I bought a roughly ~$100k home back in 09 which I could now rent for about $800-900 per month. There

Or 10 reasons why it is a great time to buy a cheap house. I bought a roughly ~$100k home back in 09 which I could now rent for about $800-900 per month. There is a nice little house on a smaller lot right around the corner listed for only $65k. For somebody like me that has a decent income and decent credit the opportunities to buy nice little rental properties and make a tidy rental income have never been better it seems.

codex_irl 13y ago
What part of the country do you live in? I bet it is not in the SF bay area ;-)
- virmundi 13y ago
  Probably not, but not everything is the Bay. I'm moving to Florida. I plan to buy a house that is 30k. Small bungelow. Just me, the wife, the dogs and a cat. At the same time I plan on buying a 55k fixer-upper. The first I should be able to pay in cash. The second, won't get bought until my current home sells. However, that second house, once improved (by us: we do flooring, plumbing, painting and simple eletrical) should value at 160k. Once we move to the fixed house, we'll rent the other for 500 a month. Should be doable since my wife is currently in FLA in a 300 sq/ft studio at 500 a month. I purposely didn't want to go to the Bay for this reason. I avoid California at all cost for this reason. My long term plan is to startup a tech firm, hire college grads, train them and try to keep them with the company for 5+ years. Hard, but doable. The nice thing is they can get 45k a year, and get a pretty nice home/environment that would be hard to beat. So we'll see, but again the Bay really matters in the HN echo chamber.
olalonde 13y ago
Wow, my apartment in China is only 800$/month but it's worth 370,000$. I really wonder why people keep buying real estate in China. I guess they are hoping to make money from the increasing value of properties rather than the rent.
- twoodfin 13y ago
  I really wonder why people keep buying real estate in China. Isn't it chiefly because most other forms of investment are banned or highly restricted?

codex_irl 13y ago

What part of the country do you live in? I bet it is not in the SF bay area ;-)

virmundi 13y ago
Probably not, but not everything is the Bay. I'm moving to Florida. I plan to buy a house that is 30k. Small bungelow. Just me, the wife, the dogs and a cat. At the same time I plan on buying a 55k fixer-upper. The first I should be able to pay in cash. The second, won't get bought until my current home sells. However, that second house, once improved (by us: we do flooring, plumbing, painting and simple eletrical) should value at 160k. Once we move to the fixed house, we'll rent the other for 500 a month. Should be doable since my wife is currently in FLA in a 300 sq/ft studio at 500 a month. I purposely didn't want to go to the Bay for this reason. I avoid California at all cost for this reason. My long term plan is to startup a tech firm, hire college grads, train them and try to keep them with the company for 5+ years. Hard, but doable. The nice thing is they can get 45k a year, and get a pretty nice home/environment that would be hard to beat. So we'll see, but again the Bay really matters in the HN echo chamber.

olalonde 13y ago

Wow, my apartment in China is only 800$/month but it's worth 370,000$. I really wonder why people keep buying real estate in China. I guess they are hoping to make money from the increasing value of properties rather than the rent.

twoodfin 13y ago
I really wonder why people keep buying real estate in China. Isn't it chiefly because most other forms of investment are banned or highly restricted?