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11-25-2008, 02:48 PM
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Member
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Join Date: Nov 2008
13 posts, read 4,515 times
Reputation: 10
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Hi
So 60000 is the minimum one would require in order to find a decent property in the city,I mean to be sure you will find ,,good tenants,, it will not require much work etc,etc.I donțt have that kind of money and thanks to your forum I am safe from ****ters like the uk one that assures me of everything.I saw people of Buffalo angry about investors like myself ,but here there are a lot of Italians with this kind of investissement and no one has nothing against them...i just dreamed ....
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11-25-2008, 06:05 PM
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Real Estate Agent
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Join Date: Jun 2007
Location: WNY
936 posts, read 734,079 times
Reputation: 124
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there is nothing wrong with dreaming of investing in rental property. While I dont do it, my partner does it and does it very very well. He keeps all his properties clean and evicts when he has to - BUT it is work, that's all. I have absolutely nothing against European investors, but some do not do thier homework and buy up many pieces of crap and then realize what happened and just let them rot - it's not just Europeans, I assure you we have locals that do that as well. If I think something is not worth it, I tell you up front - most of those homes cant even be mortgaged b/c they would never even appraise for 25k. Alot of scams involve investors that bought them for litterally a few thousand and turn around and sell them on online auction sites with no guarantees - then the new owners sadly are left with nothing.......then you have those middle men who sign a deal with you and turn around and sell the home under your signed contract in 24 hours and leave you hanging..................................ive seen it done to me personally - signed contracts mean nothing without attorney approval, gone are the days of integrity, unless you use someone who actually cares about thier license..........
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11-26-2008, 12:41 AM
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Member
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Join Date: Nov 2008
13 posts, read 4,515 times
Reputation: 10
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what about buying an appartement(small one) in a block or condo for the purpose of renting to students, how much does it cost in a area that is sought by students(it doesnțt have to be the best,in fact the worst from the liveable ones ....),could you give me some details???
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11-26-2008, 05:19 AM
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Real Estate Agent
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Join Date: Jun 2007
Location: WNY
936 posts, read 734,079 times
Reputation: 124
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Quote:
Originally Posted by cucu
what about buying an appartement(small one) in a block or condo for the purpose of renting to students, how much does it cost in a area that is sought by students(it doesnțt have to be the best,in fact the worst from the liveable ones ....),could you give me some details???
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If you purchase one that needs extensive rehab, who will do the repairs to it? |
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11-26-2008, 10:02 AM
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Member
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Join Date: Nov 2008
13 posts, read 4,515 times
Reputation: 10
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you are right,so bye bye american pie....
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11-28-2008, 09:16 AM
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Member
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Join Date: Nov 2008
13 posts, read 4,515 times
Reputation: 10
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I am still intersted in a studio(1 bedroom flat) in good condition that can be mentained and rented .Could anyone help me with this?
Regards B
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