quote:

Originally posted by a1abdj:

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I fear they're hiding something. Probably lead paint.

The realtor said the property was under contract three times this year and buyers immediately backed out each time.

Several years back there was a two story "house" down the street from one of my rental houses for sale by a bank that foreclosed on it for $160,000. Would have taken about $40,000 worth of work to make into a 2, 3, or 4 unit apartment building. One day I'm driving by and I see a truck with a small drill rig on the back boring holes into the ground. I stop and talk to the guy doing the drilling, and he hands me a tube and says to smell it.

Gasoline. This house used to be a small store with fuel pumps, and the owner lived above. This store closed long before I was familiar with the area, so I had no idea. The fuel tanks were never removed, and had leached into the ground. Guy who had it under contract backed out. Out of curiosity I called the bank and they offered it to me for $8,000. I had researched things a bit, and although there were some ways around it, the information I came up with would require me to remediate the property at my expense. That was a no-go, so I passed.

Shortly thereafter another guy came in and swooped it up for the $8,000. He said he put about $50,000 into it for a total of $58,000. It has a large downstairs unit of 1,600 sq. ft., and two upstairs unit of 800 each. Between the 3 he gets $2,500 a month, and has been doing so (probably more now) since 2006. So not counting taxes, insurance, and maintenance, that's about $480,000 out of his $58,000 investment, and he still owns the property outright. Everybody knows about the fuel tanks and nobody cares. Feds don't care. County doesn't care.

Moral of the story: It doesn't matter how much a property is suffering so long as it has the potential and can be purchased right. If you're interested, low ball them. They may just take it.

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We popped in unannounced and Marky was having a great time.

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Originally posted by mark123:
I’m back home after getting Marky settled. The only thing i couldn’t get done was setting up his chromecast to the new network. Has anyone done that successfully? Google Home cannot find the device no matter what i tried.

Other than that, I’ve never felt so sad in my life.

quote:

Originally posted by HRK:
I've run across a few times when setup didn't go as planned.

Here is a cheat sheet that might help you, it's what I used.

Link

quote:

Originally posted by mark123:

quote:

Originally posted by HRK:
I've run across a few times when setup didn't go as planned.

Here is a cheat sheet that might help you, it's what I used.

Link

Thank you. I’ll try it.