We are so close to 11k subs! Take a moment to subscribe it's free 😀 Sources for this video www.wandtv.com/news/study-finds-decatur-as-the-city-with-the-fifth-strongest-roi-on-investment-property/article_ebc60a22-fefb-11ed-8130-3f3e423d571e.html#:~:text=(WAND)%2D%20According%20to%20a,currently%20expect%20the%20highest%20ROI decaturil.gov/primient-announces-400-million-investment-to-improve-decatur-plant/ gov.illinois.gov/news/press-release.29702.html
Sometimes cheaper is not better. I saw a house on Zillo it looked remodel and was 30% cheaper than most homes in that city. We went to look at homes in this state, and this particular home was on the worst street in a so-so neighborhood. The next door neighbors looked like gang memebers hanging out on the balcony smoking drugs. Nobody mowed their laws. It looked like every house had 3 families living in them. We just drove by and didn't stop to look at the place. You get what you pay for. Let the buyer beware.
Very true! One thing you did right was see it for yourself! You'd be surprised how many people don't further investigate outside of seeing a listing online. Sounds like you avoided a money pit!
I appreciate these videos because they let people know there's RE at almost every budget level. I started investing in the HOOD of Chicago, and those were my most profitable projects. I have a good friend who's built a $1M+ portfolio in Jackson, MS. Investing in LCOL areas has its challenges, but it's a great way to get started if you see it through.
Thanks so much for your feedback, I appreciate it! I just want folks to think outside of the box. You and your friend are proof that it's possible to succeed in areas where others would ignore! Do you still invest in Chicago?
One of my old friends got a new job amd went to Oklahoma and bought a nice home on 5 acres for 109k She said the only thing higher is the insurance premiums due to the extreme weather there. But the trade-off with the peace and safety is worth it. I hope to visit soon and just run through all her acres 😂and talk to all the Oklahomans. She says they're all really nice. Abreath of fresh air from the inner city she was in.
Thanks for reaching out! Check out this video we cover how it works. Maybe I’ll do it in a future video as well! Appreciate the feedback. th-cam.com/video/2GzUS0VO8_E/w-d-xo.html
Lot's of properties under $10k. That's listed. Many more owners never list because it was listed for years and no bites. I own in Phoenix and have 2 possible next adventures. Plan A: Move to SE Asia. Plan B: Buy a under $10k in some middle of the US house. Current target is Cairo IL. Many vacant houses. The draw for me is I can walk to the Mississippi and Ohio rivers for great fishing. Love to eat catfish and fish in these rivers have almost no mercury. So if SE Asia isn't my cup of tea I'll switch to plan B. I've slow flipped houses for 22 years so to me "rough" condition is better than nice condition. Nice condition often means hidden problems. I prefer everything needs to be replaced from the studs in. I remodel 1 room. That gives me a place to live. Call it a Tiny house inside a normal house. Then remodel the rest slowly as I like. That allows me time to find salvage building materials for much less than retail.
I like this series! Can you go through listings in just one city? Like “what can you buy for $500,000 in LA” or something like that? A budget and a city and go through listings?
Funny there is so many areas of the USA that have next to no one living in entire towns. Many states have abandoned areas. Simple buy the place scrape it, and put a new mobile home on it, so many options. I think your way to high on your rental income. Some may rent for as little as $400. City knocks them down here , and hauls them away, then owns the property and sells them. It's call unwanted homes here. Stops drug addicts from moving into them. Property taxes and price drops???? Insurance and price drops???
You buy and live, there, with your family. You can tell by the condition of the property, the state it's in, what nightmare tenants you are going to have. So, I wouldn't want to own it as an investment.
Thanks for your comment. It all depends on investment strategy. Some investors rehab properties then rent them out. Others buy turnkey. Others fix and flip. I don't think the condition of a property at purchase is indicative of the area or potential tenants. The opportunity to force appreciation through rehab is what makes the real $. Also, where someone would have a rental isn't necessarily where they would live.
Pay a couple hundred bucks for pics on low end properties??? No, no, no. That's not the market. Renters in that market want one thing "cheap". That's all that matters. If they want to paint then let them.
We are so close to 11k subs! Take a moment to subscribe it's free 😀
Sources for this video
www.wandtv.com/news/study-finds-decatur-as-the-city-with-the-fifth-strongest-roi-on-investment-property/article_ebc60a22-fefb-11ed-8130-3f3e423d571e.html#:~:text=(WAND)%2D%20According%20to%20a,currently%20expect%20the%20highest%20ROI
decaturil.gov/primient-announces-400-million-investment-to-improve-decatur-plant/
gov.illinois.gov/news/press-release.29702.html
Sometimes cheaper is not better. I saw a house on Zillo it looked remodel and was 30% cheaper than most homes in that city. We went to look at homes in this state, and this particular home was on the worst street in a so-so neighborhood. The next door neighbors looked like gang memebers hanging out on the balcony smoking drugs. Nobody mowed their laws. It looked like every house had 3 families living in them. We just drove by and didn't stop to look at the place. You get what you pay for. Let the buyer beware.
Very true! One thing you did right was see it for yourself! You'd be surprised how many people don't further investigate outside of seeing a listing online. Sounds like you avoided a money pit!
Crime stats? Major consideration.
I agree. I recommend folks taking this into account when looking at neighborhoods within a city
I appreciate these videos because they let people know there's RE at almost every budget level. I started investing in the HOOD of Chicago, and those were my most profitable projects. I have a good friend who's built a $1M+ portfolio in Jackson, MS. Investing in LCOL areas has its challenges, but it's a great way to get started if you see it through.
Thanks so much for your feedback, I appreciate it! I just want folks to think outside of the box. You and your friend are proof that it's possible to succeed in areas where others would ignore! Do you still invest in Chicago?
Great information! Thank you for all your videos.
Thanks for your support! I really appreciate it@@georgetteokeke6630
One of my old friends got a new job amd went to Oklahoma and bought a nice home on 5 acres for 109k
She said the only thing higher is the insurance premiums due to the extreme weather there. But the trade-off with the peace and safety is worth it.
I hope to visit soon and just run through all her acres 😂and talk to all the Oklahomans. She says they're all really nice. Abreath of fresh air from the inner city she was in.
My brother can you walk us through these assumable mortgages.
Thanks for reaching out! Check out this video we cover how it works. Maybe I’ll do it in a future video as well! Appreciate the feedback.
th-cam.com/video/2GzUS0VO8_E/w-d-xo.html
Excellent video Sir.. Digging your content.. You are straight to the point with little filler.. Keep up the great work
I really appreciate that. Thanks!
Any of us born and raised in the Midwest knows of Decatur, but you definitely wouldn't know it unless you are from Illinois, Indiana, Iowa, etc.
Def makes sense. Shoutout to the Midwest!
Lot's of properties under $10k. That's listed. Many more owners never list because it was listed for years and no bites. I own in Phoenix and have 2 possible next adventures. Plan A: Move to SE Asia. Plan B: Buy a under $10k in some middle of the US house. Current target is Cairo IL. Many vacant houses. The draw for me is I can walk to the Mississippi and Ohio rivers for great fishing. Love to eat catfish and fish in these rivers have almost no mercury.
So if SE Asia isn't my cup of tea I'll switch to plan B.
I've slow flipped houses for 22 years so to me "rough" condition is better than nice condition. Nice condition often means hidden problems. I prefer everything needs to be replaced from the studs in. I remodel 1 room. That gives me a place to live. Call it a Tiny house inside a normal house. Then remodel the rest slowly as I like. That allows me time to find salvage building materials for much less than retail.
Very interesting scenarios to consider. Thanks for sharing!
I want to add that I also LIVED in the HOOD of Chicago. I paid my dues and it was a great into to real estate investing.
Salute to you!
I’m from the hood in Chicago too. Also how I got my start in real estate.
@@porkerrican it's a tough place, so if you can make it there, you can make it anywhere!
Shoutout to you!@@porkerrican
I like this series! Can you go through listings in just one city? Like “what can you buy for $500,000 in LA” or something like that? A budget and a city and go through listings?
Ohhhhhh I like this idea!
I have a few friends that live in Decatur. Im 30 min from Chicago and we know Decatur
that's awesome! It's great to hear from someone who is familiar with the city!
I live in NJ, it’s expensive here to invest
I totally understand where you’re coming from
Okmulgee way better than muscogee. Muscogee has problems with high crime.
Funny there is so many areas of the USA that have next to no one living in entire towns. Many states have abandoned areas. Simple buy the place scrape it, and put a new mobile home on it, so many options. I think your way to high on your rental income. Some may rent for as little as $400. City knocks them down here , and hauls them away, then owns the property and sells them. It's call unwanted homes here. Stops drug addicts from moving into them. Property taxes and price drops???? Insurance and price drops???
Kearny Aridzona has many homes at 50k or less, and they need a lot of work.
Love all of this! Thankyou for sharing! Interested in all the 20k properties with gardenspaces.
thanks for watching! Ohh that sounds interesting!
You buy and live, there, with your family. You can tell by the condition of the property, the state it's in, what nightmare tenants you are going to have. So, I wouldn't want to own it as an investment.
Thanks for your comment. It all depends on investment strategy. Some investors rehab properties then rent them out. Others buy turnkey. Others fix and flip. I don't think the condition of a property at purchase is indicative of the area or potential tenants. The opportunity to force appreciation through rehab is what makes the real $. Also, where someone would have a rental isn't necessarily where they would live.
Obviously it will need some updates to tenant standards. That’s a bold statement to say a tenant would be bad especially if u screen them properly.
thanks for sharing!@@jonathanrivera7329
Pay a couple hundred bucks for pics on low end properties??? No, no, no. That's not the market. Renters in that market want one thing "cheap". That's all that matters. If they want to paint then let them.
Thanks for sharing!
What happened bruh, why didn't you add Saint Louis in this video. Selfishly I'm looking to sell my duplex there 🙂
Check out this video! I feature St Louis
th-cam.com/video/4Vv2XaDBClM/w-d-xo.html
@blackrealestatedialogue You on your A game today champ.
Wilson what made you begin to tap into real estate investing?
Are these cash buyer only
It depends. Maybe there are some smaller local banks that will lend up to a certain limit.
Where is this lpace
huh?