Buying a foreclosed home...

[soapybum]

idk about price ranges for all the states but working minimum wage full time for a couple months and really watching your pennies you can have enough to buy a small house in the midwest states. You'll always have somewhere to crash indefinitely, and when you are traveling about you can rent out some rooms for really cheap (just enough to pay property taxes and renters pay utilities). Anyone else done this before or any opinions, suggestions etc about this?

 

[landpirate]

this is exactly what I am looking to do in the UK. Sadly don't know much about property market in USA. But sometimes its just nice to be able to go off on your travels knowing that whenever you decide to come back you have somewhere sorted to stay. Also if you own the land/house or whatever you can do what you like with it. good luck, I hope you find somewhere to buy and make your hard work worthwhile.

 

[soapybum]

Thanks, and I already have a few houses I'm looking at. Cuz the housing bubble burst there are a crap ton of foreclosed homes for really cheap all over the U.S. I'm just hoping that the gentrification doesnt spread to the area I'm hopefully buying a house in.

 

[Pheonix]

if you want to compare prices go to www.realtor.com with list every listing from every realtor in america. it's the Official site of the National Association of Realtors.

 

[FLoP]

I've seen houses for $2000. Or less a around Newcastle,pa. Cheap house and a train yard

 

[dprogram]

When I sold foreclosures you could get them for as low as 2k all over Memphis. 2k being the minimum commission amount so the bank would actually be giving it away but covering the commission they'd have to pay out to the agent. You'd basically need to pay cash for something like that as it would likely not qualify for any loan. In my area you can also buy from the city by just paying the back taxes owed on the home and sometimes those are in much better shape as they've often not been abandoned and neglected for as long. It really depends on the home though. The problem with many of the homes is that you'd still have to keep it up to code but if you bought something in a more rural area you can get away with neglecting things a bit more. Might sound crazy to some but I love the real estate biz so let me know if I can help.

 

[tobepxt]

This is kinda an idea I've had for a while too. I really fucking hate the fact that these homes were taken from people who couldn't afford 'em anymore. But its a cheap place to crash that's always there. I think be real nice.
Hey dprogram, where is it you can just pay the back taxes? I wonder if they do that here... How do you find out?

 

[FLoP]

I was outside Pittsburgh with my girl in Elizabeth, pa. We saw a house so we started to squat it and clean it up. We asked the neighbor about the house. She went online for us and got all the info on the house. The owner, previous owner, the amount in taxes owed and paid. Who and where the owner lives. We tried to contact the guy, but nothing happened. After 3days another neighbor call the cops and we got busted. He was a cool cop and just gave us a trespassing citation and told us to just take off and not worry about it if we weren't going to be staying in town. But yeah, a simple Internet search gets you all the data you need. I'm going back out to that area soon and I'd like to save up for a cheap house or just a plot of land to put a tent and have it be legally my camp site.