Ok..now that I baited you in, here me out. I was looking at a prospective rental property two weeks ago when I saw a decent house two doors down that was all grown up and looked vacant. I asked a lady across the street what the deal was and she said the owner died about 3 years ago and it has just been sitting there.
I pull up the tax records and find the current owner lives a few states over(guy that died son). I mail them a letter telling them I would like to buy it for a rental and heard back from him today.
We haven't closed on it yet so it could fall through, but I offered him $20,000 cash and he agreed(should have said 15k...frick). The home is worth about $40,000 - $45,000 as is. I'll put about $5,000 in it to get it rent ready and rent it for $700 a month.
Point I am trying to make is, anyone
can make easy money in real estate. My gains in the stock market are MUCH slower than that.
This post was edited on 1/5 at 2:40 pm