idea:
buy a duplex
or turn a larger house into a duplex
check out the cost of permits
idea:
buy a tax owned house
usually 3 years overdue taxes
and county treasurer keeps a list
make an offer to owner before it hits three years
make a point of looking for property that
came online after someone died w/o relatives
these properties go to the state
state becomes liable and wants to ditch them
will often just tear them down
watch real estate auctions
some properties do not appeal to investors
do your homework on mortgages
do your homework on any liens against them
older people may want to sell
but don't want to fix things vefore market
which realtors will request or demand
property "as is" may have huge problems
ask neighbors
one property I checked out had been abandoned by owners
and they left the dogs inside for weeks
pee all over walls and into the wood
required removal of a lot of the frame
there are chemicals that can neutralize this
made of bio stuff that eats the stuff that stinks
if you know these secrets
you can buy a house for the cost of the land
with owners thinking its a total loss
watch for properties that repeatedly go to auction
something wrong with them
banks won't loan on them
but if you buy from a homeowner
"lease to own"
you may get a good price