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Real Estate Windfall
Old 02-22-2005, 01:17 PM   #1
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Real Estate Windfall

Just saw a news story on the news. A guy bought a house that finally came up for sale. It had sat vacant for over 8 years while an estate settled. He took the news crew through the house, where they dodged cat feces and cat skeletons. The refrig had not been plugged in or opened in 8 years

This guy bought this property for a song. After he cleans it up, repairs and refurbishes it, he is going to make a fortune.

He is going to earn every penny of it and then some.
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Re: Real Estate Windfall
Old 02-22-2005, 01:51 PM   #2
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Re: Real Estate Windfall

I have the perfect renovation tools for him.

A 5 gallon can of gas and a match. :P

Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: Real Estate Windfall
Old 02-23-2005, 09:14 AM   #3
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Re: Real Estate Windfall

Sounds like a crack house I went into the other day, except it's only been empty for about 3 months. It's going to be sold, once out of probate. The guy who owned it died and his son, who had a drug problem, went nuts and tore the inside apart.
You don't want to work. You want to live like a king, but the big bad world don't owe you a thing. Get over it--The Eagles
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Re: Real Estate Windfall
Old 02-23-2005, 03:51 PM   #4
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Re: Real Estate Windfall

A young guy at work (who knows construction) bought his third house this week. Drove around our area, saw a house that looked "sad." Asked neighbors. Owner died three months ago, relatives live hundreds of miles away. Bottom line, bought it for just over $200 K in an area where bottom line for a home is around $370 K. Home is very sound. Needs a good cleaning. It'll be a rental property for the guy. Great move on his part.
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