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HOT TOPIC Just bought a house for $9,000...

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YoungPadawan

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GoGetter24

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How the hell is that house $9k?

Does it get internet out there? And is there food within walking distance, and no meth zombie issues?

If so, sounds like the perfect fastlaner's grindhouse.
 

Dubidu

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On Friday I paid the mortgage off my (modest) apartment.

I'm now mainly stressing at the lack of funds so this licensing gig(Idea 1) /Idea 2 better pay off! I have my eye on a house in a run down area (that has huge potential as it is about 2-3 miles away from the equivalent of Wall Street but has historically been deprived/neglected) and Brexit should depress prices further so I'm now in full on squirrelling mode as I hate having too big a mortgage/debt generally and I'd like a house rather than living in an apartment.

Any tips by real estate experts on the Forum on how to haggle for price/what to look for etc. would be welcome! I won't get it for $9000 - I know that much :playful:
 
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YoungPadawan

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How the hell is that house $9k?

Does it get internet out there? And is there food within walking distance, and no meth zombie issues?

If so, sounds like the perfect fastlaner's grindhouse.
Yep, fiber optic internet and no meth zombies that I know of. Lol
There's no grocery store in the town though, but there are a couple convenience stores.

If there is anything to be learned from this thread, it's to always have a cash reserve on hand for purchases that you know you will eventually make anyways.

You can pick things up for dirt cheap this way because peoples lives are always changing - whether they're desperate for cash or their lifestyle is changing (moving to a different city, divorce, biz liquidation, etc.). Or sometimes, people are just lazy and want the stuff gone fast.

You can set up automatic alerts on eBay to notify you if a particular product you're looking for is listed under a certain price - then you can snatch it up quickly. You can also set Google Alerts to notify you of particular keywords and price ranges also, and by doing these things, you can pick things up for crazy low prices.
 
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YoungPadawan

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Coming soon: How to get dirt cheap (or free) internet...
 

Caroleen M

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Yep, just bought a house.

Is it a super sexy house that will have hordes of women knocking on my door, oogling at my new abode?

Nope, not really. It's an older house and has some work that needs to be done with it. (Drywalling, updating the HVAC system, and tearing out the shagadelic calico orange carpet)

But it does something critical for my future unscripted lifestyle. It gives me mortgage-free freedom.

What's the best part? It's a 4 bedroom, 2 bathroom house and I have someone lined up to rent out the other half of the house.

Living for freeeeeee! Similar to what @G_Alexander did quite a few years ago in one of his threads I think. (House hacking)

I'm pretty pumped to say the least. I've also been developing a product for the past 3 months and I plan on turning the living room into a fulfillment center... lol

On my way to becoming unscripted, baby...
Congrats!!! Send us photos (if you want, of course). I love photos of houses with character but, still need a bit of love...
 

million$$$smile

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If there is anything to be learned from this thread, it's to always have a cash reserve on hand for purchases that you know you will eventually make anyways
Epic.

That quote alone is the difference between the real haves and the have nots. If one can discipline themselves to save, so that they can pay cash for all personal purchases ie; vehicles, clothing, toys etc, than when a deal comes along such as this, funds should be available.

My mantra is to only borrow when I can generate cash without relying personally on my time in paying it back.
Now, off my soapbox.

Congrats man, awesome job! So what are your long term plans; to continue to live there or to fix up and eventually rent or resell? Looks like that lot is big enough to grow your own veggies!

I am envious!
 

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G_Alexander

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Awesome my man @YoungPadawan!

Now just rent out 3 (of the 4) bedrooms for a couple hundred dollars each per month and create a positive cash inflow. Not sure what your town room rates look like, but you might be able to squeeze somewhere between $300-$600 per month out of those 3 rooms combined that you don't use. Then you're really on the path brother!

Make your money work, while you sleep. Rinse, and repeat.

Cheers, and congrats! :clap::
 

Almantas

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We should pick your house as the location for the next summit. I'll take the shed! Lol.

On a serious note - well done! The house looks lovely!
 
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YoungPadawan

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Epic.

That quote alone is the difference between the real haves and the have nots. If one can discipline themselves to save, so that they can pay cash for all personal purchases ie; vehicles, clothing, toys etc, than when a deal comes along such as this, funds should be available.

My mantra is to only borrow when I can generate cash without relying personally on my time in paying it back.
Now, off my soapbox.

Congrats man, awesome job! So what are your long term plans; to continue to live there or to fix up and eventually rent or resell? Looks like that lot is big enough to grow your own veggies!

I am envious!
For sure, I think we have similar methods for money management. If at all possible, I never take out loans for a liability. Only for assets that either can make me money, or make my business more efficient. Buying assets for the long term.

For instance, here's a current purchase/project I'm working on:
IMG_20180912_152412253_HDR.jpg
I'm building a grain bin that will pay itself off in a year. I'm building it myself because half the cost of building a bin is the labor cost - plus I know that it will be built well. This thing will last 30+ years.

My philosophy is all about building a super low cost foundation - then aquiring money producing (or efficiency improving) assets. It's all about building those 'virtuous cycles' man.

The plan is to stay here for the next 10+ years and to continue to expand the family farming operation and to build a bulk commodity/ag services empire.

Brick by brick...
 
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Karl Hemlin

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Great work man! Keep on hussle!
Are you planning on buying more houses with the money you’re going to save?

I’m right now working my a$$ of in a 9-5 job to save up for my first househack so that i can after that save up to another house hopefully twice as fast, and then again and again faster and faster!




Skickat från min iPhone med Tapatalk
 
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YoungPadawan

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Great work man! Keep on hussle!
Are you planning on buying more houses with the money you’re going to save?

I’m right now working my a$$ of in a 9-5 job to save up for my first househack so that i can after that save up to another house hopefully twice as fast, and then again and again faster and faster!




Skickat från min iPhone med Tapatalk
Thanks man! This will probably be the only one, as I'm focusing on other projects.
 

mike24601

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Great find! I love those old, turn of the century farmhouses. This one looks to have great bones, just needs some updating here and there. Did you get the furniture with it too? I have seen a few houses for sale dirt cheap that belonged to an elderly person who passed away and the family doesn't have the time to clear things out, so they just include everything inside with the sale.
 
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YoungPadawan

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Great find! I love those old, turn of the century farmhouses. This one looks to have great bones, just needs some updating here and there. Did you get the furniture with it too? I have seen a few houses for sale dirt cheap that belonged to an elderly person who passed away and the family doesn't have the time to clear things out, so they just include everything inside with the sale.
Yep, the furniture comes with it. And you guessed it - it did belong to an elderly couple that used it for a place to stay when they went fishing during the summer.
 
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YoungPadawan

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Goodbye shagadelic orange carpet. You will not be missed. IMG_20180925_163229909_HDR.jpg

Hello hardwood floor
IMG_20180925_201529087.jpg

Here's some nightmare fuel that was in one of the rooms
IMG_20180925_155843763_HDR.jpg
IMG_20180925_155846761.jpg

Sort of reminds me of this video:
View: https://youtu.be/azEsDoQXkP0
 

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mike24601

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It's funny how tastes change over the decades. Just think, at one point someone said "ugh, that hardwood floor is so dated and hideous. Better cover it up with this orange shag!"

If you have really squeaky floors, there are special screws that you drill through the floorboards and down the length of the joists, then the heads get broken off and you can't see the repair. I have used them before to decent success in a squeaky house.

Also those bears look vintage and could be worth a pretty penny. If you haven't torched them yet you might like to do some research and list them on eBay or something.
 
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YoungPadawan

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It's funny how tastes change over the decades. Just think, at one point someone said "ugh, that hardwood floor is so dated and hideous. Better cover it up with this orange shag!"

If you have really squeaky floors, there are special screws that you drill through the floorboards and down the length of the joists, then the heads get broken off and you can't see the repair. I have used them before to decent success in a squeaky house.

Also those bears look vintage and could be worth a pretty penny. If you haven't torched them yet you might like to do some research and list them on eBay or something.
Haha, yeah, that's for sure. Good tips, thank you! Do you have any experience with wavy floors? I would like to level the floor on the first floor, but I'm not totally sure how I would go about doing it without destroying the hardwood floor.

As for the bears, I had a couple antique dealers go through my house to have them bid on some of the furniture/decor. Hopefully I can sell a few hundred dollars worth of stuff that they can haul out.
 

kkompoti

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great deal !
what is your family farming business?
 
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Alright, as promised, here is how to get dirt cheap (or free) internet…

I was going to do this at my house, from my parents house, but unfortunately, there are too many trees (and a hill) for it to work well enough. But I will show you what to do anyways.

So, let’s say you know someone that lives within viewing distance of your house (or shed, or treehouse, or where ever you want internet). You’re sick of paying crazy internet bills and decide that you want to work out a deal where you split the internet bill with your friend that lives a couple miles away.

Warning: this is somewhat complicated. If you aren’t somewhat tech savvy, or have a small understanding of computer networking, I wouldn’t recommend attempting this.

So… basically what you need to do is set up something called a “Point-To-Point connection.” Here are the tools you’re going to need to set up a connection that has a line of sight within 5 miles:

Two of these:
$130

https://www.amazon.com/dp/B004EHSV4W/?tag=tff-amazonparser-20

Two of these:
$20

https://www.amazon.com/dp/B01MRRPNSD/?tag=tff-amazonparser-20

One of these:
$7

https://www.amazon.com/dp/B01LX23L5I/?tag=tff-amazonparser-20

Two of these:
$33.34

https://www.amazon.com/dp/B003D1QPHK/?tag=tff-amazonparser-20

Two 6 foot ethernet cables (approximately $12

And one of these:
$27.49
https://www.amazon.com/TP-LINK-300Mbps-Wireless-Router-TL-WR841N/dp/B01GS37NV6/ref=sr_1_2?ie=UTF8&qid=1542326662&sr=8-2&keywords=router&refinements=p_72:2661618011

Total Cost:
$230


Next, go to your friends place, get next to his router, and hook up your Nanostation and POE injector like in the horrendous MS Paint picture I made (I have attached it below). You will want to use the weatherproof cables to hook up to your Nanostations to your POE injectors in your friends house (or treehouse). Follow this tutorial to set up both of your Nanostations. He’s using a Nanostation M5, but the setup for a Nanostation M5 Loco will be the same:

View: https://www.youtube.com/watch?v=wZxJPBukjbY

Next, you’re going to want to set up your router. You will want to install the open source software called DD-WRT to allow your router to extend its capabilities and to allow you to turn it to “Repeater Bridge” mode.

How to do it shown here:

View: https://www.youtube.com/watch?v=oJaYE9Yk7gc&t=35s

and

Installing DD-WRT on the TP-LINK TL-WR841N

Once you get your router up and running, hook up your nanostation to the router and enjoy the simple life of low cost internet browsing.

So there you have it. Internet to your treehouse for dirt cheap (or free) depending on your arrangement with your friend.

All in all, it's somewhat complicated. I might be doing this for a friend in the future so I may make a video.
paint.png
 

AgainstAllOdds

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Alright, as promised, here is how to get dirt cheap (or free) internet…

I was going to do this at my house, from my parents house, but unfortunately, there are too many trees (and a hill) for it to work well enough. But I will show you what to do anyways.

So, let’s say you know someone that lives within viewing distance of your house (or shed, or treehouse, or where ever you want internet). You’re sick of paying crazy internet bills and decide that you want to work out a deal where you split the internet bill with your friend that lives a couple miles away.

Warning: this is somewhat complicated. If you aren’t somewhat tech savvy, or have a small understanding of computer networking, I wouldn’t recommend attempting this.

So… basically what you need to do is set up something called a “Point-To-Point connection.” Here are the tools you’re going to need to set up a connection that has a line of sight within 5 miles:

Two of these:
$130

https://www.amazon.com/dp/B004EHSV4W/?tag=tff-amazonparser-20

Two of these:
$20

https://www.amazon.com/dp/B01MRRPNSD/?tag=tff-amazonparser-20

One of these:
$7

https://www.amazon.com/dp/B01LX23L5I/?tag=tff-amazonparser-20

Two of these:
$33.34

https://www.amazon.com/dp/B003D1QPHK/?tag=tff-amazonparser-20

Two 6 foot ethernet cables (approximately $12

And one of these:
$27.49
https://www.amazon.com/TP-LINK-300Mbps-Wireless-Router-TL-WR841N/dp/B01GS37NV6/ref=sr_1_2?ie=UTF8&qid=1542326662&sr=8-2&keywords=router&refinements=p_72:2661618011

Total Cost:
$230


Next, go to your friends place, get next to his router, and hook up your Nanostation and POE injector like in the horrendous MS Paint picture I made (I have attached it below). You will want to use the weatherproof cables to hook up to your Nanostations to your POE injectors in your friends house (or treehouse). Follow this tutorial to set up both of your Nanostations. He’s using a Nanostation M5, but the setup for a Nanostation M5 Loco will be the same:

View: https://www.youtube.com/watch?v=wZxJPBukjbY

Next, you’re going to want to set up your router. You will want to install the open source software called DD-WRT to allow your router to extend its capabilities and to allow you to turn it to “Repeater Bridge” mode.

How to do it shown here:

View: https://www.youtube.com/watch?v=oJaYE9Yk7gc&t=35s

and

Installing DD-WRT on the TP-LINK TL-WR841N

Once you get your router up and running, hook up your nanostation to the router and enjoy the simple life of low cost internet browsing.

So there you have it. Internet to your treehouse for dirt cheap (or free) depending on your arrangement with your friend.

All in all, it's somewhat complicated. I might be doing this for a friend in the future so I may make a video.
View attachment 22500
Does the internet slow down with this setup?

How long would you say it took you to set up all of this?

This is something that could be interesting for Airbnb businesses or anything else where you offer free wifi.
 
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YoungPadawan

YoungPadawan

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Does the internet slow down with this setup?

How long would you say it took you to set up all of this?

This is something that could be interesting for Airbnb businesses or anything else where you offer free wifi.
Yes, there is some loss compared to being connected directly to fiber optic, but I would say it probably runs at like 80%- 95% the speed, depending on the distance and if there is clear line of sight. It's super important to have a clear line of site for this.

It takes about 8 hours roughly to get all the stuff programmed and all the cable run.
 
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Mutant

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Congrats @YoungPadawan - looks like a great investment & the potential to be a really nice home!

My town you can't even buy a garage for $9000 lol.

Well done!
Yup, I just had a quick search to amuse myself, & here in London, the most expensive garage I could find was for £140,000. To be fair, that was prime London, a more normal garage near where I am in Zone 2 was about £85,000.

:rofl:

I wonder why I plan on buying elsewhere...


(note for anyone considering London property - I get that it wouldn't be so bad if you're investing & could get a good yield, but that's not currently the case, far better yields elsewhere in the UK)
 

Merging Left

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Nobody has asked, but while $9,000 sounds like a great deal on the house, what will it be worth when you have fixed it up a bit? Are other houses in your area selling for significantly more than what you paid?

Either way, living for free is a great accomplishment and you won't have to fear going all-in on anything since you still have a roof over your head!
 

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