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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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7080216 No.7080216 [Reply] [Original]

It's about 1200 sq ft with a nice sized separate garage. It needs work, probs 10k worth of repairs to get it in nice shape. Should be able to rent it for 600-700 a month, or flip it for an easy 10k profit. Anyone else into shitty cheap rental properties?

>> No.7080287

>>7080216
I don't believe you. Surely a return that good (on the rent) you'd get super rich just buying these everywhere?

>> No.7080643

>>7080287

It was a really good deal. Bought it from a company that picks up houses on tax liens and then flips them for next to nothing but still good profit for them.

>> No.7080719

>>7080216
Was this the kind of stuff /biz/ consisted of before crypto?

>> No.7080875

>>7080719

Honestly I have no idea. I wasn't around back then. Only reason I was able to get this was because of crypto desu

>> No.7080911
File: 309 KB, 1043x1027, e82bfc6b6414a4806c29dd50186a344f913fc691e9daccfd69237d0d764d405b.jpg [View same] [iqdb] [saucenao] [google]
7080911

>>7080719
It was a good balance between biz/crypto

>> No.7080951

>>7080216
Where?

>> No.7080956

>>7080911
>Gulden
Lel
It's actually accepted by some stores here though.
https://www.youtube.com/watch?v=KrcXMMdmgfE

>> No.7081033

what kind of shithole third world country do you live in where you can buy a house for 12k lmao? I live in a top 10 livable city in the world and its 1mil plus for a 3 bedroom house

>> No.7081125

no where in the untied states an you buy a house for 12k so stop lieing

>> No.7081127

>>7080719
>>7080875
>>7080911
Keep in mind /biz/ was only created because crypto threads were overtaking /g/. /biz/ has always been crypto dominated since it's inception.

>> No.7081183

>>7080719
This and how to make money selling the produce you find in grocery store dumpsters.

>> No.7081228

>>7081125
>no where in the untied states an you buy a house for 12k so stop lieing
Take your pick.

https://www.zillow.com/homes/for_sale/Detroit-MI/pmf,pf_pt/17762_rid/0-12000_price/0-46_mp/globalrelevanceex_sort/42.594038,-82.606888,42.204616,-83.565445_rect/9_zm/

>> No.7081289
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7081289

>>7081228
>detroit

>> No.7081315

>>7081228
It's not that simple, they're that cheap because there are liens, back taxes etc.

>> No.7081319

>>7080216
Nice cuck shed. Tell your wife's son I say hi.

>> No.7081321

>>7081228
That's not America

>> No.7081334

>>7080216
chicago?

>> No.7081348
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7081348

>>7080643
bullshit, clearly a big field like housing there are at least 100 niggers waiting to buy it before you.

your bullshit is clearly bullshit.

>> No.7081369

>>7080719
there was drop shipping, affiliate marketing, and ebay threads too

>> No.7081388

>>7080216
12.5k btc?

>> No.7081389

>>7081228
I live in metro-detroit. I recently cashed out 900k from crypto. Should I start doing this? I can't shake the feeling that it's a tarp.

>> No.7081422

>>7081321
Niggers aren't human, either.
The idea that there aren't depressed real estate, foreclosures, and tax auctions all over the country every day of the week can't be debated. Leave your basements on occasion.

>> No.7081443

>>7081033
>Livable
Yeah according to some shit liberal rag. I've been to every major city in the US and Canada and I've found the list of livable cities is usually exactly backwards. They give the most points for diversity and density. The two things that makes cities the most shitty.

>> No.7081477

>>7081127

Well, yeah, but that doesn't mean that the entire board just gets to be nothing but poojets and chinks shilling their worthless pump n dump shitcoins

>> No.7081484
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7081484

>>7081228
>https://www.zillow.com/homes/for_sale/Detroit-MI/pmf,pf_pt/17762_rid/0-12000_price/0-46_mp/globalrelevanceex_sort/42.594038,-82.606888,42.204616,-83.565445_rect/9_zm/

>> No.7081486

>>7080911
oh shit i just remembered i went to /biz/ long long ago for resume help, cant even imagine that now

>> No.7081529

>>7081443
yea they list toronto on that list all the time and I can tell you, unless you're a multimillionaire and living in a gated white community, you will want to end your life.

>> No.7081562

>>7081389
Just pick a city that isn't run by Democrats, and especially not black Democrats. Detroit is a shithole because shitlibs needs niggers to remain a perpetual welfare-class in order to guarantee their greater-than-100% voter turnout and to keep gibs-train-for-votes scam running. Liberals don't want nigger hives like Detroit to ever be fixed. They need ghettos and hopelessness to keep those votes coming in.

There are still plenty of real estate options available. I live in a fairly small 92% white city and you can still easily find houses needing work in the $5000-30,000 range all week long. Average rent on a 1-bedroom apartment is still almost $600.

>> No.7081643

>>7081562
i live in a fairly small mostly white city and houses stripped down to frame and exterior with piss soaked subflooring and burnt out electrical wiring still sell for over $150k

>> No.7081652

>>7081443

No, according to things like services and amenities available to you, pollution levels, quality of accommodation available, job availability, advanced industries etc. And i dont live in America. But enjoy your shithole 12k shack in the middle of nowhere that will be worth 15k in 20 years. Meanwhile my house has gone from 800k to 1.4mil in the last 3 years because its somewhere people actually want to live and not a fucking dirt pit in the middle of a garbage country like america

>> No.7081672

>>7081562
Yeah I'm thinking of getting in the real estate game if it's north of 8 mile around Warren.

>> No.7081680

>>7081348
>nobody has ever bought anything that is for sale
>the house has a keylogger in it
The levels of ignorance of the average /biz/tard would make even /b/ blush. You speak constantly from your asses, and even your asses are dumb.

I'd list you the foreclosure auction results just from my own city, but I'm not going to risk doxing myself by getting retard all over it.

>> No.7081725
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7081725

>>7081562
>live in jew york
>cost of living is so fucking high that the government has to subsidize housing for niggers
>paid for by people that actually work of course

why didn't i just move to pennsylvania honestly

>> No.7081728

>>7081643
You live within 30 miles of a metro with a massive population, people who are desperate for places to live within driving distance and are continually spreading outward, and the prices of your land are $150,000k for a lot. The shitpile sitting on it is free.

>> No.7081740
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7081740

>>7080911
so did /biz/ actually used to be good?

>> No.7081745

What country/state/province?

>> No.7081752
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7081752

>>7081562
>>7081672

>> No.7081782

>>7081725
Living in New York is the biggest fucking scam (((anybody))) has ever pulled. Fucking expensive shit hole

>> No.7081853

>>7081728
>you can buy the house without the land
I think you're missing the point.

and no, i don't. I'm over 80 miles from the nearest metro, which isn't massive, and 2-5 times that from the ones that are

>> No.7081896

>>7081127
>/biz/ has always been crypto dominated since it's inception.

false, try again

>> No.7081916

>>7081652
Yeah okay jerkoff. I live in luxury in a medium size American city with white neighbors and you probably live in a 400 square foot shit box on the 7th floor of some high rise crack den. I can actually drive around without bumper to bumper traffic. The weather here is gorgeous, the medians are meticulously landscaped and there isn't an ounce of trash in the curb like most "livable" cities I've seen. Get outside of your little bubble, dingus and see some of the world before running your dick sucker.

>> No.7081939

>>7081752
What if biz's next move is to start getting together with our newly found crypto wealth and pump and dumping neighborhoods?

>> No.7081986

>>7081782
dont be mad you weren't born into a rich famalam.

>> No.7082102

>>7081939
nvm. this involves leaving your house and interacting with people. never going to happen.

>> No.7082158

>>7081916
What state? I want to move to the States and live in a state with the best weather. Thinking Texas.

>> No.7082262
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7082262

>bought it for 12k
>should be able to rent it for 12k/yr

>> No.7082336

>>7082158
Austin is great. I love in the vicinity. I would also suggest Hilton Head, SC. Naples, FL or anywhere on Florida gulf coast between Sarasota and Naples. California coast between Malibu and San Jose. Northern California or Oregon. Williamsburg VA. Anywhere in Maine, Vermont, New Hampshire, rural Connecticut or Massachusetts. Colorado outside Denver. Salt Lake City, Utah. You love in any of those cities/states you'll love it.

>> No.7082400

>>7082336
Live not love. Dang autocorrect

>> No.7082542

>>7080719
Nah it was just why can't i get a job, university dick measuring and boomers bragging about their retirement portfolio

>> No.7082597

if youre a house flipper you should check out east coast canada

>> No.7082683

>>7080216
>implying that panjeet and his 10 niglets will Pay rent

>> No.7082685
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7082685

I own 6 rental spaces, well.. I guess technically 5 as I live in one.
I live in rural British Columbia.
I bought a house for 190k like 10 years ago, it has gone up in value almost 100%. the amount I charge for rent just covers mortgage, taxes, insurance. Any repairs come outta my pocket, but I'm a tradesman so I do everything myself. I was young and inexperienced so this property was a huge learning curve. It was in bad shape and needed lots of work to make nice.

Then about 7 years ago bought a commercial building for 70K, it needed about 70k in renos, not counting my labour. I get 2 retail units and 1 residential apartment. I do very well on rent $ in this one.

Then 4 years ago I purchased an acre of land with 2 houses on it for 200k. The small house i live in, the large one I rent out to cover the mortgage and etc. I live for free in the little house, which is renovated very nicely.

my advice, multiple unit dwellings are more profitable, and learn how to do your own work.

I wish there was more threads like this

>> No.7082807

>>7082685
post a pic of your hands

>> No.7082940

>>7082685
whats the most challenging part of renovating a new property

>> No.7082971

>>7081369
hell yeah I remember those ebay general threads

>> No.7082972

>>7081127
Bullshit. During most of it's life biz saw one or none active crypto threads at a time. It was mostly real business/investing and Robin Hood until a few months ago.

>> No.7083000

>>7080719
All /biz/ was after crypto crashed for a few years was robin hood threads trading meme penny stocks and threads about how to save 10 cents each week by eating nothing but oats and water and scamming a free bus ticket off a homeless guy.

>> No.7083051

>>7082972
>few months
I've been on /biz/ since June and it was all crypto back then as well.

>> No.7083158

Anybody here buy cheap houses in small towns and rent them out? In Alberta and Saskatchewan there are plenty of houses for sale in hamlets that can be cleaned up and rented. The only problem I see is that there are no jobs so no renters lol

>> No.7083248

>>7081916

>lives in bumfuck nowhere
>thinks everyone on the internet is from murica
>scared of the big scary city and other people
>tells people to get out of their bubble

lmao id say youre trolling but you probably went to some hick country highschool where they barely taught you to count so its actually believable

>> No.7083253
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7083253

>>7082940
most of my properties needed extensive work. I am a bit trigger happy to rip things out, I like to spend a lot of time on layout. I have never sold a property so "flipping" isn't my thing. Houses weren't selling that quickly around here, although they are now. At first I was trying to save this part and work around that, thinking that it would save me money... get a fucking dumpster and gut that shit. Do it proper, so less repairs in the future.
Also take care of yourself, I have only just started wearing proper protective gear, I shudder to think of the shit I was breathing in.
And gloves so your hands look nice like mine

>> No.7083314

>>7080911

wow, there needs to be a /cc/ board so /biz/ can get back to being /biz/.

>> No.7083365

>>7080719

Pharma stocks, AMD/NVDA, other random shitty tech stocks, Martin Shkreli worshipping threads, wagecucking threads, tradesman threads, threads bitching about living in the Bay Area, a few bitcoin threads making fun of coiners when it broke $500, a lot of bitcoin FUD

>> No.7083401

>>7083365

Meant nocoiners not coiners fuck autocorrect

>> No.7083414

>>7081228
>detroit

Nigga you serious? i need protection there man

>> No.7083494

>>7081782
Go to Boston

>> No.7083527

My advice as a landlord, build a rental to be a rental.. no point in expensive hardwood floors, durable is key.. make it nice charge appropriately, cheap rent usually means poor renters. Understand that damage can occur and reasonably wear and tear will happen. Give respect but be firm. Once they start falling behind on rent they will never catch up.. even if they mean well and are trying.

>> No.7083730

>>7081127
no it wasn't this board was filled with "guys how do i make 1000 in 2 days" and people replying "suck 1000 dicks at $1 a dick" old biz wasn't that great lmao this board was dead

>> No.7083844

>>7081782
Except a New Yorker can go to any city and take your job with no effort

>> No.7084112

>>7082336
What are your thoughts on buying shit cheap rental properties in Savannah, GA or Baltimore and renting them to dindus leaving the rental companies to deal with it?

>> No.7084168

>>7082685
Do you manage your own tenants or let a third party do it?

>> No.7084227

>>7083527
experiencing this myself. how long do I work with them?

>> No.7084252

>>7084112
Buying property in ghetto Baltimore would be a fucking nightmare. You will likely not see good returns after dealing with expenses like if your renters dont pay, break shit, deals drugs and gets raided/murdered etc

Savannah is much better but it would be wise to live near your investments in case your real estate agents try to bilk you with fake repairs

>> No.7084521

>>7081127
The fuck are you talking about nigger

>> No.7084523

>>7084168
I manage my own, i don't know if I recommend it or not. It sucks to have to deal with other peoples problems..ask this guy >>7084227

>>7084227
Its up to you, definitely better to deal with it quickly. Read up on the tenancy act, know the laws..It can be hard to get someone out if they choose to be unreasonable. I have never had to involve a sheriff or claims court, but I have lost out on plenty of rent money. Be honest with them and make sure they understand that if they are having problems, that means you are having problems. and you want to help them, because it helps you.. They need to be honest and realistic about their situation. Unless you just have nigger-tier tenants, then fuck em. I wish I had a solution for you.. I had one tenant unable to pay rent, but seemed to have lots of money for snowmobiles and shit. He didn't get much leeway from me

>> No.7084639

>>7084227
Not my story but, my uncle has rentals. He had some tenants who stopped paying rent, and the house was getting trashed.. He got sick of harassing them constantly so he payed their first month rent and damage deposit at someone elses rental, and kept their kayaks when they left. ha

>> No.7084677

>>7082336
I live in southern Oregon. It sucks during the rain season which is like majority of the year here, but during the summer and fall, it’s amazing. A lot of scenic areas.

>> No.7084875

>>7081725
>>7081782

Confirmed for never making it. Either start hustling or get out. This city will eat you alive if you're weak.

>> No.7085131

>>7081477
>well, yeah,

You idiot. Kek.

>>7081127

Retard.

>> No.7085145

>>7081740
is this you? nice cat faggot

>> No.7085332

>>7084639
Thanks for posting. You think starting cheap and flipping to rent is the best way to start? What if your goal is to retain a full time while doing this to get started?

>> No.7085596

>>7080911
Before crypto and /pol/ brought down the average IQ to 67

>> No.7085683

>>7085332
look for multi unit property. duplexes or basement suites or something its a good way to start, it gives you somewhere to live, and gives extra income. Do the math, what are rent prices in this area, what will my expenses be.
Maybe my advantage is my full time job is in the trades. So work spills into life. I have no wife or kids.
I have even been in a situation where it was cheaper for me to rent an apartment to live in. because I could get more money renting my home out. Always do the math

>> No.7085789

>>7085683
another advantage with multi units. If you have one vacant or a deadbeat tenant, there is still income from the others. its not an all or nothing situation.

>> No.7086154
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7086154

>>7081228
>you can still see the bullet holes

>> No.7086317

>>7081562
This guy gets it

>> No.7086358

>>7080719
Rich kids buying shitty flats with their trust fund? Probably

>> No.7086388

>>7080956
Yeah lol surprised to see that Dutch shitcoin being shilled so intensely there