I'm back from looking at investment properties and I decided to put in an offer on one of them.

Here are the possibilities:

This one was listed for $26,600 and has a new roof. The inside was terrible and needed alot of work. This one was removed from the list of possibilities.

This one is listed for $20,897. After calling the listing agent, we found out that the property went under contract last night. I decided not to look at this one.

This one looked pretty good and only needed cosmetic repairs. The electrical and plumbing has all been redone. It is listed for $29,900. Sadly, it was also put under contract prior to our viewing. I am keeping my eye on this one just in case the other deal falls through.

This one looked deceiving in the pictures. It is listed for $24,900. It is the only 3 bedroom, 2 bath property that I looked at. This one also needed alot of work and had a weird layout. This one is also off the list.

And the winner is:

It is listed at $33,900. I am planning to offer $25k. My agent will be faxing the offer over tomorrow. I plan to have a thorough inspection to make sure there are no major problems.


  1. Debt Dieter // October 13, 2007 at 10:26 PM  

    I can't believe how cheap those houses are, Most people I know pay more than that for their cars!

    I'm looking to buy my first apartment in the next few years and I'm looking at paying $350,000AU!

    I could buy 7 of those even with the exchange rate difference.

  2. Anonymous // October 14, 2007 at 9:56 AM  

    Where the heck did you find these houses? The cheapest things around my neighborhood is around $400-500k.

  3. Anonymous // October 14, 2007 at 11:10 AM  

    Good heavens, where on Earth do you live. People could pay cash for these things.

  4. Sara // January 26, 2008 at 5:43 PM  

    That fourth one looks like it's a Katrina cottage layout (search the Lowes website).

    I love the idea of the Katrina cottages, but there's only one floorplan that I really love.