Haha yeah I do not have any experience with rentals or actual flipping, but don't mind working on things around a house all day.
I bet if I had owned a rental I would hate it, but I have heard a few good stories from people if they only have one or two, and carefully check out those who would be renting the place.

 

Yeah, its a nice supplement to your income if you ave one or two, but for a living its insane. To much BS when dealing with that many people. Flipping its different then working around the house because you have to do it quick. First it cost the money to buy the house, then you have to pay the taxes while its being worked on then the expense of fixing it up, and THEN waiting for someone to buy it. :\

Man my job made me hat some things! LOL

Although the city of cleveland came to us with a deal to buy 8 houses in a area for pennies on the dollar. Thats not bad. We are waiting to see if they will let us go tax free until each is rented or sold. Because 100$ a month property tax adds up on that many empty homes.

 

That would be awesome if they would let you go tax free!
Haha yupp property taxes are brutal.. It wasn't even until I took my real estate classes til I realized how much some cities are..
My way of flipping consists of me finding a house that needs work and is priced great, preferably liveable to an extent and moving in, and working on it one room at a time. No time line to get done, but once done, put it on the market by owner for whatever I want, and if anyone takes it great, if not I have a nice house to live in and try it again in a year or so.
So maybe flipping isn't the best word but more like heavily renovating haha.
And I can't speak from experience so I don't know for sure what I want to do, but this is the way my dad did it, and I have always been helping him and know how it works out sometimes, and others it doesn't.

 

Yeah I can see doing it that way, Although it might get old not having a "home" and just having houses. But if ya do it while you're young you will be able to settle later. And when you're working a full time job it gets old haveing to com home and do that much work!!!! AHHHHHHHHHHHHH

I say that knowing when I look for our next home, I will be looking for one that needs work but live-able at the same time. That way I get it at a great discount!

Realling my main concerns would be good roof, electrical, plumbing and a sound foundation. And of coarse a few rooms that dont need much more then painted. I could live in them and finish the rest like you were saying.

 

There is a lot of houses like that right now, that need work but I think are definetly liveable and like you said you can get a hell of a price on most of them.
Haha while I am young it isn't too bad to work on the house after a day of school and work, you just got to keep thinking of how good the final outcome would be, but in a few years or so, I am sure I will be sick of it..
I gotta to agree, a solid foundation, is the biggest issue, then updated electrical, as the old glass fuse houses can be a pain! The roof isn't too much of a concern as long as its not leaking, and if there is only one layer currently on it, so you don't need to do a tear off, once you get into a tear off then costs get up there, and plumbing I already hate but hopefully the plumbing problems aren't too bad, just a leaking valve or bad flex line, anything more then that, well I am not to sure haha

 

Well a bad roof is a leaky roof. lol I would look into the laws now, because I believe you can no longer have the multiple layers. It was no more then 3 but I thoguht they changed it. this could also only be cleveland. Plumbing is actually easy beasy if you can weld you can sweat/solder and measure you should be good!

Any cheap houses in Amherst/eaton twn./ridgeville area?

 

Plumbing can be easy, but at times its seems you can fix a spot, only to have the spot right next to it have a problem now haha
It can be very frustrating work..
I think you can do up to a third layer, or at least that's what they told us in my real estate classes last year, but they change things quickly, and I believe my buddy just a new roof and it was a second layer, I will have to ask him.
I haven't really looked into Amherst or Eaton, but I have seen a few in Ridgeville. I bet you want some land, maybe at least an acre?

 

Acre at min.

But really I would just like something pretty damn cheap at the moment.

 

Cheap is good!
Are you watching the Browns??
Good game so far?

 

Yeah its a good game! 20 - 10 browns!

And yeah my boss found one out in NR for 80k is getting it for 60k

 

Hillis the RB just threw a 13 yard pass tothe QB McCoy! HAHAHAHAHA AWESOME!

 

Yeah it is!
Do you know what street it is on?

 

Interception and touchdown!!!

 

browns!


Nie to end this season like last! HHAAH and win out!

I dont know which street its on I forget.

 

They placed a great game!
And I get a chance tonight I will look for any steals in those areas on over an acre.