Midwest's Progress

[MidwestLandlord]

You could possibly be the only game in town.

I personally know 4 guys in my town doing flips. They dominate the market. I made an offer on a house here last month, from a "I buy houses" craigslist ad I ran.

One of these guys came in and beat my offer by $20k

Not on MLS
Retails for about $100,000
Needs $20k ish work
I offered $60k
He offered $80k and bought it
Not sure how he expects to make money on it...

I'm actually looking at a smaller town that I travel to for work often. As far as I can tell, NO ONE is flipping there. I just bought a house there:

Retails for $70,000
Needed $1,500 work (carpet and paint)
Bought for $50,000
I was going to flip it, but my buyer got cold feet so I kept it as a rental. Getting $800 a month for it already.

I'm gonna run some ads in that town and see what happens. It's about 35,000 people, but I think it has potential.

Thanks for the insights!

 

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[MidwestLandlord]

Xjip O gostv tvesvif cazoph sipvem qsuqisvoit, O tvesvif cz fuoph vji tiesdj nztimg up vji NMT. O raodlmz guapf vjev nutv ug vji siemmz huuf fiemt fu puv iwip neli ov vu vji NMT. O vsoif vu hiv e gix fiemt huoph, cav jef vu cedl uav updi O siemobif tuni onqusvepv opgusnevoup jef puv ciip opdmafif op vji qutvoph (tnuloph fenehi, johj JUE giit, ivd.)

Tu O kuopif vji mudem siem itvevi opwitvust ettudoevoup epf huv duppidvif xovj e gix coh qmezist op vji vuxp. O qodlif aq e faqmiy vjev't ciip neloph ~20% DuD SUO. Jewi zua duptofisif kuopoph e mudem opwitvust dmac/ettudoevoup?

Up e tofi, epf huoph xovj vji qutv ecuwi gsun @miwokiep, vji haz vjev O cuahjv vji faqmiy gsun jet ciip vaspoph qsuqisvoit migv epf sohjv vji qetv gix ziest: ji jepf xsovit mivvist vu katv ecuav iwiszupi op vji vuxp. O updi huv vjsii mivvist gsun jon op upi fez etloph vu caz nz juni sitofipdi xjodj xet gappz, cav xjev ji't fuoph xuslt. Ji't qodloph aq qsuqisvoit gus 40% ug vjios siveom wemai, fuit tuni onqsuwinipvt epf vjip sipvt vjin uav. Cideati ug vjot, ji't neloph pusvj ug 50% DuD SUO. Epf vjip ji vaspt tuni ug vjin fuoph e 1031 iydjephi epf nuwoph opvu cohhis namvo-genomz qsuqisvoit.

Pux vjuti esi vji lopf ug sivaspt O xeppe tii!

Xjip O tvesvif xovj sipvemt O vsievif vjin moli ep opwitvnipv optvief ug e catopitt. O lpux civvis pux, vjeplt vu hazt up vjot gusan.

O'mm muul opvu vji ettudoevoup't esuapf jisi.

Upi ug nz huuf gsoipft ot e coh wumani siemvus op vuxp, epf ji vumf ni vu hu tunixjisi imti gus gmoqt. (ji ati vu fu gmoqt xjip ji xet zuaphis) Teof ov ot katv puv xusvj ov jisi. Ji't vji upi vjev quopvif uav vjot uvjis nesliv vu ni, epf teof ov jet jahi quvipvoem.

 

[MidwestLandlord]

1. Jux ot vjot vji gostv voni vjev O'wi tiip zuas opvsu?
2. Huuf vu lpux tuniupi imti jisi ot lommoph vjintimwit op siveom.

Piif vu xusl up zuas gusan nincis tvemloph tlommt jeje.

 

[letter9]

Huuf madl up zuas qsuhsitt, xomm ci xevdjoph zuas qsuhsitt epf miespoph e muph vji xez!