@Jason Arcuri I totally agree with your recommendation, I'm just having an issue with putting my money in, the little amount that it is, in a local market where I can't afford to
buy in a nice area.
Not exact matches
Best
Buy (bby) is making
nice with one of its fiercest rivals, Amazon.com (amzn), to bolster its ongoing bid to be the leading retailer
in the booming smart - home tech
area.
If I lived
in another «fast» town, I might be tempted to
buy a really
nice cocktail dress for a party, but everything is so casual and laid back
in my
area!
While we've purposefully avoided
buying nice area rugs since our little ones are still so young & messy, we still try to keep them clean &
in good condition.
I
bought the only remaining silver green metallic LT
in the PA / NJ / DE tri-state
area and have gotten 3 remarks on how
nice the car looks when filling it up at the gas station.
I
bought a really
nice inflatable kayak and love driving up to put -
in areas, unloading my kayak, and taking off on an adventure!
Would I
buy a positive cash flow property
in a not so
nice area that appreciates slowly and there is no obvious pride of ownership?
But it can be
nice to
buy something tangible, something you can pass down, even if you have to tighten your belt
in other
areas.
I've also
bought some
nice business tops and pants from other thrift stores
in the
area, and believe it or not, but I get more compliments on my fashion sense now since I've started
buying there then before.
Now I live
in the San Francisco Bay
Area, and I happen to own several very
nice bridg — oh, but I forget, you've already
bought one.
They're very sweet and
nice couple but now fighting over where to
buy their first home
in south bay
area.
You know whether people
buying in your
area really value a finished basement or consider it simply
nice to have.
If I had your construction and heavy equipment background I would be
buying the ugliest houses
in the
nicest area I could afford and fix them up.
Looking at listing may not need full rehab, new roof and water heater done, 3br
in neighbor run 900 to 1000, rehab for low maintenance, try to
buy as low as you can, look at comps, probably could go
in as low as 38 - 42 with good agent and stress as is, maybe a few agents here to help, get one to give you good numbers not listing agent numbers, street is a
nice one for
area, not much back yard or parking but
nice front, before you close make sure vacant contingent, if numbers work I would do it, the are predicting an abundance of rentals avail next year with building craze but keeping expense low you should be safe, remember don't rehab as if you are living there, think durable and repaintable, number should go into systems and structure first, elect, heat, walls, windows, floors, plumbing, if you use a contractor go with one you know or work with someone
in area to keep an eye on progress, good luck at least you know some of the history of the property
The number one advantage to this approach is you can
buy a
nicer property
in a
nicer area and still make the numbers work as well and sometimes even better than
buying a multi unit.
Or if your only going to own a few then you should
buy in an
area that you can break even on but you have a great chance at
nice move up
in values... your mortgage gets paid down by tenant and the value moves up you don't need positive cash flow
in those markets..
You just
buy a place
in a
nice area, find tenants and let the cash roll
in — right?
My daughter
in law
bought a real
nice area rug at Costco so I guess what I'm trying to say is it doesn't have to cost an arm and a leg for a good carpet..