Posted by Katherine on April 25, 2008 at 14:42:48:
Thanks so much BigV, That makes total sense!!
Anybody want a $500 home – five hundred dollars? - Posted by Kenneth Hocking
Posted by Kenneth Hocking on April 24, 2008 at 22:06:41:
CNBC got this one down pat.
Goto the countrywide site on the cnbc article Home Loans and Current Rates from Bank of America
and sort by state and list price and WOW you go by and look.
I picked similar zipcodes to the ones I saw on the Countrywide site and plugged those zipcodes into realtor.com
on realtor.com I looked into detroit for homes under 20,000 and there were 2,3,4,500 dolar homes hundreds under 15,000 .
Pulled up rentals.com in same zip and similar fixed up houses renting for 800+ so Buy for 5K fix for 15K 20 K in and rent at 800+
Booking a trip to michigan gotta buy James-Mich a Keg!
WOW talk about cashflow!
Re: we have those - Posted by Chris
Posted by Chris on April 25, 2008 at 07:53:18:
Yeah you can get that here in Central NY, no crime though. You’ll probably pay more like 5-10k, and they’ll need work. We had our second police fatality recently since the 70’s. Pretty small city, decent jobs, you do get a lot of county assistance, but most everyone works, just low income wal-mart, county pays half. Here a 2 bed apt rents for $550. A whole house can be anywhere from $750-$1100.
Cheap but not worth it… - Posted by Cheap but not worth it…
Posted by Cheap but not worth it… on April 25, 2008 at 07:39:25:
You can find the same thing here in St. Louis, MO. The gov’t actually has a website where you can buy all the houses you want for free. But, one guy was just killed the other night driving his car down the street in one of these “cheap” neighborhoods because one of the thugs on the street decided he wanted his car. So, are they cheap? Yes, they are. Are they worth it? I guess that will be up to you to decide.
Re: Anybody want a $500 home – $500 dollars? - Posted by IB (NJ)
Posted by IB (NJ) on April 25, 2008 at 07:31:34:
At $800/mo what kind of tenants are we talking about?
Ib
Re: Anybody want a… dollars? - Posted by James - Michigan
Posted by James - Michigan on April 25, 2008 at 07:01:56:
Dear Kenneth,
Please make that Guinness. I’m cheap, but if I drink, it’s gotta taste good. 
Sincerely,
James
There are over 1300 CW in FL - Posted by David Krulac
Posted by David Krulac on April 25, 2008 at 05:42:18:
starting at $66,900
Good deal - Posted by Brandon
Posted by Brandon on April 25, 2008 at 04:44:50:
Nice find Ken. So is this thing legit? IF it is, i’m all in.
Depends on the area. - Posted by Rich-CA
Posted by Rich-CA on April 25, 2008 at 22:31:33:
Rents in parts of the Phoenix areas are in the high $800 range - starter middle class homes, decent neighborhoods.
DONE - Posted by Kenneth Hocking
Posted by Kenneth Hocking on April 25, 2008 at 07:59:55:
Except I will be drinking Scotch More Bang less Calories!
That’s a little higher than $500 - Posted by Rich-CA
Posted by Rich-CA on April 25, 2008 at 22:32:15:
!
Re: There are over 1300 CW in FL - Posted by Katherine
Posted by Katherine on April 25, 2008 at 07:09:13:
Sorry David, but what is a “CW”?
Country Wide homes on their repo list in CA. nt - Posted by David Krulac
Posted by David Krulac on April 25, 2008 at 10:38:18:
NT
Re: Country Wide homes on their repo list in CA. - Posted by Katherine
Posted by Katherine on April 25, 2008 at 14:34:47:
David, I am very illiterate when it comes to real estate terms since I am a newbie here. What does CW and NT mean? Would you please explain?
Thanks