Friday, June 27, 2008

On another topic....

We're going to look at another house on Sunday! Here it is:


It's listed for $209,900. It revenues about $31,000 a year in rents. A legal triplex used as a fourplex (the name of the game is cram 'em in! Our houses so far are a legal single used as a duplex, and a legal duplex used as a triplex - may as well continue the pattern!) so it easily covers itself and makes a bit of spare change at that price. It's in a really good neighborhood, but not the best house on the block. It's also a good rental neighborhood, right next to the bus routes going in four different directions, walking distance from Timmy's AND McDonalds AND a grocery store. It has a solid block garage facing backwards into the alley - either additional rent or storage for us.

Also, my real estate agent is a godsend who actually checks stuff out for us thoroughly. It has been on the market since April (are they getting desperate yet?), and they only bought it last July - for $175,000!!! So unless they've made some significant renovations, which their listing does NOT talk about, we are going to hugely low-ball them. Obviously they've tried the investment game and don't like it, or are failing miserably at they want out.

Here's to being a shark!