/biz/ - Business & Finance

For $4K, you could buy an entire neighborhood in Detroit. Wait until the government gets done sucking Israel's dick and sends aid to Detroit. You will have an entire neighborhood built free.

>>424806
Sure looks like a drug den

Wait OP you for real? When you say 'home' you plan to live in it?

It's my dream to get a house too, I spend way too much time looking on real estate websites. I've got about 50k and I'm wondering if it's enough. Tell me, what are you up to?

I found this place, it's my favorite so far: http://www.realtor.com/realestateandhomes-detail/3704-Ohio-Ave_Kansas-City_KS_66102_M88668-36262?row=1

25k for a 1956 house in Kansas City (kansas side), apparently in livable condition and on a secluded acre. Can anyone offer me advice on this? I figure if I outright own the place and it's stable enough to live in, then I'll have no worries on minimum wage.

ITT poorfags showing off shit holes

>>424835
>http://www.realtor.com/realestateandhomes-detail/3704-Ohio-Ave_Kansas-City_KS_66102_M88668-36262?row=1

You amerifags live in a fucking dream.

Here un Europe, a shitty FLAT, 1 bath, 80 square metters isabout 100.000€ MINIMUM.

And we pay more taxes and earn less (in most countries).

Fuck, Europe is a shithole, I'm going to 'muurika as soon as I can.

>>424835
Paint the outside and plant shrubs along the walls if it still looks like shit then sell for $40k.

Property Details
> Beds - 2 Bed
> Baths - 0 Bath

So, do you plan to shit in your backyard?

you couldn't pay me to walk three circles around that house

>2 bed
>0 bath

>>424806
The land is worth more than the house.

>>424867
I doubt it. Probably right on the road in a really shitty neighborhood, and it's on a hill from the looks of the house.

>>424845

That price reflects on how fucked the local economy is, and possibly how shitty the neighborhood is. It looks like a decent area on the map, but much of Chicago's south side is single-family housing, and it's not exactly a nice area. In most areas, $50,000 or cheaper is foreclosure-grade.. which often (not always) means $20,000+ in repairs to get it presentable. Only problem, if the local economy stays weak, you're never going to get that money back.

That said, America's crap economy makes a lot of cities/neighborhoods decent places to retire, for foreigners. If they can get citizenship.

>implying europoors have a chance of immigrating before every Jose and Pedro

>>424850

Chamberpot

>>424862
>0 bath
At least it can't literally be called a shithole.

>>424862
Fix it up. Paint it. Maintain the yard. Install bathroom.
Sell for 60k easy.

>>424895
or rent it out and become a landlord

good career for people who want to live self-employed.

>>424895
>installing a bathroom in a shit house that doesn't have any piping in it already
literally lel

>>424895

You clearly are clueless about the USA housing market, especially for small/undesirable towns.

http://www.zillow.com/homes/for_sale/Washington-PA/48343_rid/priced_sort/40.20523,-80.186634,40.147454,-80.298128_rect/13_zm/1_fr/

So we start with Zillow. There are houses for $30,000 that have been listed for 9 months, no sale. How is it going to sell for $60k? It's a run-down, 114 year old house. It needs more than some paint.

Next, go to google maps (and/or zoom out a bit on Zillow's map). Look at the distance to Pittsburgh- pretty far. Look at other towns closer to Pittsburgh. Look at their real estate prices. Oh shit, still in the $20-30k range? Well.. there's that master plan. Saving $50/month on a mortgage ($8,000 of home value, roughly) to live 10 miles further out will be a wash when you consider extra cost of gas, grocery shopping, weekend trips, etc. Last thing, Pittsburgh metro only extends ~15 miles in any direction, and Washington PA is ~30 miles from downtown.. another no-sell point.

For a personal home, hunker down and eat cans of beans, living the life on $10k/year, sure, it's fine. It's by no means an investment.

>>424835
>1956

are you deluded

Lead paint was used up until the 70s if I recall correctly, and back then they built plumbing with steel pipes, going to have trouble with that. 25k or not, I wouldn't buy a POS from that long ago. I would only do so if i planned on tearing it down and starting from scratch

believe me, I lived in an old home once, and it is more trouble than what it is worth, and it was built in the 30s. The only redeeming factors that home has are the kitchen appliances and the price

>>424910
>For a personal home, hunker down and eat cans of beans, living the life on $10k/year, sure, it's fine.

>>424835 here. this is exactly what i want

i've been scoffed at for having this dream my entire life (family i was raised in does well enough)

still dunno if i should bite the bullet or not. i'm a manchild living with his parents currently, i don't particularly care to go anywhere in life so minimum wage is what i'm stuck relying on (which is okay)

please tell me i'm not crazy. I understand the area will be shit but that doesn't bother me, and the particular location i posted is a good one. i just want a place where i can relax without having to worry about the people around me. empathy is a curse.

>tfw live within 2 hours of toronto so even a run down shack is 300,000

>>424929

>empathy is a curse.

I know that feel

You had a structural inspection right?

>>424928
>>424970
no, don't even live in the same state. i'm not going to buy sight unseen.

also i'd hope to slowly repair the place with whatever money i save from not having to rent. being able to turn my income straight into real estate equity seems the smartest route to go for a determined slacker such as myself. I would buy this house if the neighborhood didn't give me the heebiejeebies, and that it has held up against the elements. I'd be willing to learn/hire a professional to get the place nice again, and hopefully sell higher than I paid for.

Somewhere like Kansas City I don't see the value dropping any further than it already has, assuming there aren't any nasty surprises in the place (which i won't be assuming should i go through with this)

thanks for your criticism anon, it does help. i really want this house, and i want to know everything that's stupid about the decision.

>>424815
>For $4K, you could buy an entire neighborhood in Detroit

This isn't quite true. While the prices are literally as low as a few hundred dollars, for that price you get *THE TITLE* to the property. The issue is the title can come with fun stuff liens worth over $50k for back taxes, $20k for unpaid utilities, etc. So that $400 house can get pricey quick.

>>424830
yeah science bitch! potential meth lab. /biz/

The real estate agent/broker has no duty to inform you of any liens, structural problems, etc. Furthermore, you'll probably have to replace everything down to the studs. And there's asbestos and leaded paint abatement, which is MANDATORY if you hire a contractor to do it for you. Money piles up fast.

but that looks like a container

>>424806
>Buy it.
>Hire someone to accidently the house.
>Split the insurance payout.
It's foolproof.