Re: Does anyone make any money do this stuff? - Posted by GL(ON)
Posted by GL(ON) on April 15, 2002 at 17:20:08:
I live in a boring small town in Canada, where there hasn’t been a real estate boom in over 10 years.
I buy old houses and apartments cheap, fix them up and sell them or rent them out. The houses I sell right away, because they don’t cash flow. The apartments I keep, if they have good cash flow. If they don’t have good cash flow I don’t buy them.
There are no dot com millionaire’s mansions and there are no slums or war zones.
There hasn’t been a house for sale for back taxes in at least 20 years.
People keep their properties a long time, and keep them in good shape as a rule. But every now and again a good deal in a run down property shows up.
There are also no “I buy houses” ads in the local paper. If a junker turns up it is often for sale cheap for weeks or months before someone buys it.