--70.104.xxx.xx

Good deal meaning you have instant equity for a good profit or if you wanted rent it out making a profit. --70.104.xxx.xx

--137.118.xx.xxx

I come in and scoop it up for basically, Land Value. I then speak with the tenants. I agree to fix up their units, I'm a contactor, in exchange they agree to pay the rent. Discounted until I complete work on their unit. Then full value. --47.155.xx.xxx

The caveat, of course, is that both of those houses are in a town that no sane investor would bother to mess with. But it happens to be where I live, and where I plan on living for the next 20-30 years... so I grow where I planted. But my $40k house will still be worth $40k 20-30 years from now. So it's not something I buy for appreciation or equity, but as a place that's clean/safe/functional that people will pay me $625/month this month, and $625/month next month, and $625/month the month after that to live in... --137.118.xx.xxx

Loved seeing the pictures Deanna! I bought my house and rentals nearby on the same principal to grow where I planted. Easier to manage with less travel time. Has been working for me since 1978 and the man I married in 1986. Looks like you did alot more reno on your purchases, but you also were able to buy for less. --186.233.xxx.xx

Scott, my best deals came from 1) an auction where no one bought the duplex and I bought it from the bank afterwards cuz they didn't want it, 2) my previous landlord who was tired and had family issues, and 3) my plumber who had a coworker selling an inheritance cheap, 4) lady going into a nursing home, 5) landlord getting out of the business, 6) another lady going into a nursing home. --93.177.xx.xxx

Thanks Dee Ann for the information. I was hoping to get answers like that on how/where people found there deals specifically? --70.104.xxx.xx

My best deals always came from running my Handyman Ad in the local newspaper. Unfortunately, my hometown newspaper has been dying a slow death and maybe not be around much longer. --68.63.xxx.xxx

And one from the MLS. --69.80.xx.xx

I target out of area Land lords who have owned for at least 5 years. --24.101.xxx.xx

We got ahead of ourselves though and now have two gutted ADUs that have yet to be started. And with price of materials right now being double and triple what they were just last year, not sure if we are going to tackle them anytime soon. But the main houses are rented so not all is lost. --50.82.xxx.xxx

The best deals come when they call you out of desperation,bandit signs work well for me although right now they are slow.I do mailings to everyone on the list for unpaid taxes in 3 different counties,that generally produces good deals and made an offer yesterday to a woman behind on taxes who will probably accept it friday,referrals work well,that got me a call yesterday,if i buy the place i will pay the estate lady who called me $1000,ads in the newspapers work occasionally --72.231.xxx.xxx

My best deals have come through a particular wholesaler, banks, and a real estate agent. All have brought me great deals. --173.216.xxx.xx

--108.28.xx.xxx

Good ideas on here. I got mine as a foreclosure before they got crazy. --73.120.xx.xxx

A lawyer friend that was dealing with a messy family situation as a probate and knew I had rentals. Two houses on a corner lot both solid but needing updates. Bought directly from the estate ordered by the probate judge because the family was arguing and there were outstanding bills that needed to be paid. --64.130.xx.xxx

i am not seeing any deals these days in calif or the parts of oregon i stomp around in. i am hopeful that the new administration will sheet the bed, cause rates to rise sharply, kill jobs and cause another housing crash at which point i will buy more homes. right now i am keeping my powder dry. that said all my props were bought from folks that had lender issues of some sort or from a lender that foreclosed. if we see rates return to anything close to historic norms we will see blood run in the streets and values will drop. it's axiomatic. i got a memo yesterday from my glass guy crowing about his new 2.5% 30 year fixed loan. he bragged how he wrapped $50k of car notes into that and save a PILE on monthly pmts. i didn't bother to tell him he was dumb for choosing to pay his cars off in just 360 E-Z payments. he lost his home in my neighborhood the last time he did the exact same thing in 2005. he was not qualified for the loan and had to add his daughter to qualify. WHAT COULD GO WRONG? LOTS of folks are dense and those are the folks we pick clean. --75.80.xx.xx

Basically if it has 3 walls and a partial roof it will sell and sell quickly. Worst time in my area to buy which is why Im a sell!. --24.115.xx.xxx

The 1% Rule? Try the 3.3% Rule! Cha-ching! --107.216.xxx.xxx

--107.77.xxx.xx

The last deal came from the city, but now the area has been overtaken by too many people and there's no deals. Before that foreclosures. I buy fix and hold in the worst areas that appreciate. --72.69.xxx.x

I stopped at an estate sale looking for antiques. House wasn’t bad and I asked what they were going to do with it. The representative of the estate was running the estate sale and said the house would eventually be listed for sale. I told him I was interested and could offer a quick cash closing. Spent some time talking to him and found he was getting just a pittance for managing the estate. I said I’d like to offer the estate $60k and that would mean no realtor commissions, showings, etc. Here’s where I won the deal...told him I would pay him $2,000 in cash at closing if I got the deal. Told him I’d rather pay him than a realtor. I got it. Fixed it up, rented it for two years and sold it for $145K. --70.92.xx.xx