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Anyone thinking of buying real estate in 2021?

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Sethamus

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Put an offer on a flip a month or so ago that I got outbid on. Owners came back to me to say the winning offer fell through after 30 days..but it was because the lot wasn't able to be split which is what I needed. Prices are still good in my local area. Neighbor just sold their house in 2 days with multiple offers.
 

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thechosen1

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I'm under contract on a personal home. Previous owner passed away, kids want to sell it, it needs some work. Realtor friend brought it to me off market.

Tax value is $300,000. I offered $200,000 and they accepted (only putting 10% down). Getting it inspected soon. Plan to live in it while fixing it up for 1-2 years then sell it for tax-free capital gains.

Comps justify my projected selling price. Just praying the inspection doesn't show anything too outrageously bad (I have a foundation guy at the ready, but if it needs too much, I'm out).

I have a lot of irons in the fire... Struggle with business monogamy, lol. I like to be firing on all cylinders and optimizing everything, but of course, life isn't that simple.

edit: should be closing this week! I get a great fixer upper that will become a very nice home in a desirable neighborhood, and a lot of tax-free upside when I'm done working on it.
 
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Successful Steve

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In my small city real estate is quite a bit cheaper than the state's biggest city over an hour away. But, rent here is $500/mo. And I work in the big city so I get $70k for my job and I'd only get $40k here. And I don't have to pay the $1500 rent over there!

This small has never been like this until 2020: bid-above-listing price. Those are big-city terms! I bought one house this year. Listed at $28k and I needed to go up to $35k to win. It's my 8th house. I'll get $325/mo cashflow. In January I was about to give up RE investing. But, I found a niche and a way to find good tenants, so now I'm excited about the future again. When I get 12 of these I'll quit my job because it should bring me to my goal of making $3000/mo without working.

But I won't be done yet. I'll have cash at that point and I'll partner with other investors to finance flips. You know, loan someone $10k and expect $15k back. My time should be freed up by then and I can focus on my cell phone app. Five years in my brain and no one has created anything like it yet. If someone makes it, I'll be relieved, actually. And I'll be the first to download it. But, I'm not going to do it until I can quit my job.

Anyway, as you can see, the cost of real estate doesn't affect me. I bought some houses for $15k. Those houses are now $30k so I have to spend more to by them. Oh well. I'll keep truckin'!
What city has $30,000 houses?
I haven’t seen homes that cheap even in poor markets like Mississippi or Ohio
 

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