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Old 12-24-2010, 09:54 PM
 
47 posts, read 74,791 times
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If you only this amount would you bother? Or save a little more for something a bit better? I've got cash and can't get finance so I figure go in with cash and make a bit of movement on listings?

What's the best zip code I could hope for do you think?
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Old 12-24-2010, 10:06 PM
 
Location: Beautiful Upstate NY!
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$60-70K???? You'd be better to look for a condo at that price.
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Old 12-24-2010, 10:10 PM
 
47 posts, read 74,791 times
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Originally Posted by jfkIII View Post
$60-70K???? You'd be better to look for a condo at that price.
I have. Friend who has brought many foreclosures in this price range. Of course they will never be in lovely places like GVR etc. But they are homes and they are rented...still no?
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Old 12-24-2010, 10:32 PM
 
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My place was at the lower end of that price range, but it's just a 1BR/1BA condo in a nice complex just of the South Strip. Couldn't be happier. If you want a full house for that price, I'm sure you could find it, but it'll probably be a bit outside of the city and/or maybe not in a neighborhood you would like.
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Old 12-24-2010, 10:51 PM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,509,301 times
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Quote:
Originally Posted by Castle Cliff View Post
I have. Friend who has brought many foreclosures in this price range. Of course they will never be in lovely places like GVR etc. But they are homes and they are rented...still no?
Alas...I'm no expert in this field, nor in that area...so I'll leave this to those that are.
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Old 12-24-2010, 11:22 PM
 
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You won't find a decent house, but you could easily find a small condo in an okay area.
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Old 12-25-2010, 12:06 AM
 
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I am sure you'll be able to buy something, the question is how much rent you'd get out of it. You're not going to find a place that will rent for $1000 a month in that price range, I'm thinking more like $800/mo.

If you have cash, I'd be scoping the trustee auctions, but there are a lot of players there under 100k, so not many "deals" to be had at that price level.

I can't really do the math and figure out how you'll get 12% yield on a place unless you have no management co, get a killer deal on a place, keep it rented out all year long, and have no repair expenses.

I've seen reasonably nice 3/2 1600-1800 sf homes go for 115k at trustee sale for which you could probably get $1100 a month in rent.
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Old 12-25-2010, 02:37 AM
 
83 posts, read 179,504 times
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A house could be tough but possible but you can get some great
condos in this range. Check out the real estate auctions also that's
how I got my condo at a really great deal.
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Old 12-25-2010, 04:56 AM
 
47 posts, read 74,791 times
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Quote:
Originally Posted by volfanga View Post
A house could be tough but possible but you can get some great
condos in this range. Check out the real estate auctions also that's
how I got my condo at a really great deal.
I believe HOA's are the work of the devil! Just kidding but when was the last time you heard good news about them? SFR's are definitely possible. Not the best thing around but not the worst surely? Here's one brought by a person I know of for 58K

5737 Baffy Circle, Las Vegas NV - Trulia
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Old 12-25-2010, 07:29 AM
 
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HOA's are the devil until you realize that they keep your neighbors from blasting their stereo until 3am, cars being put up on cinder blocks on the lawn and trash from piling up on the street. A good HOA is one you never realize is there, but everything just seems to work.
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