What You Get For $68,000 (SHOCKING DISCOVERY)
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- čas přidán 27. 06. 2023
- It may surprise you to learn that there are countless individuals and families across the country who live in situations like this. The abandoned foreclosure we visited was just one example of the many rundown and neglected homes that exist in our cities. While it's true that foreclosed homes can sometimes present investment opportunities, it's important to approach these situations with caution and consideration for the broader implications. Many foreclosures have been left unoccupied and neglected for extended periods of time, which can result in significant damage and repair costs. Always be sure to do your DUE DILIGENCE.
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DISCLAIMER The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.
PS I am neither American nor do I live in America but the fact that I work in construction and love DIY's (am a civil engineer), am addicted to your content. You explain everything simply enough. Just a shout
It's good to see your content. There's too much flashy trashy idiocy around flipping and fixing up houses. It's good to see your common-sense content. Happy to subscribe.
Just tryna keep it real! Thanks for watching and subscribing!
Amen to valuable “common-sense” context..very good and useful videos. I appreciate the honest straight-forward teaching!
I feel exactly the same way
Amen. I couldn't have said it better myself
The sheetrock looks like the Mississippi River delta 😂 🐜
Shining like a National Guitar.
(Credit - Paul Simon)
The termites ate through some framing to get to that sheetrock...
Magnificent information! Thank you for an honest, straightforward, and helpful video about plusses and minuses of foreclosed houses.
Thank you for watching!!
That house has got some serious potential. Nice presentation Wayne.
It truly does!
I close on mine tomorrow I paid 13k. 1100sqf. Brick home
That’s exactly the type of house I want to flip on my CZcams channel. I’m hoping to buy something like that in the next year and show what can be done with a home that looks like a total disaster.
With prices here in southern California through the roof, seeing opportunities where the beginner can actually afford to get into the real estate "fixer" game is encouraging. Even fixers here in socal (orange county) are insanely expensive ($500k+).
Really enjoy the walkthrough videos. Such a bad time though to make any big purchases, especially if you're going to finance it. Things are just getting started. So many deals coming in the next few years. Keep the content coming Wayne!
It's actually has a ton of potential. What a shame it got to that point. An investors dream right here though!!!
Sure is!
Pierce Brosnan (with a southern accent) delivers another great video
Thank you for the video man
Wayne, this house is not far from me. The house had squatters living there. The boards were put up by them because the issue with getting in the house. The side yard had a condemned motor home on the side of the house next to the car port. They trashed it up pretty bad. After they removed the squatters, they started clearing the yard and eventually gutted the house. They area is a nice area with young and older neighbors around it. I hope the new owners can get it fixed up.
It's always good to be well informed. That house needs more than TLC, it needs a full gut. If you have the cash AND the connections to get the work done in a timely fashion you may be able to make a decent profit. With the current rates the lower end houses will be harder to move.
The bathroom looks like silent hill
I actually want to purchase a fixer upper. I personally think it's fun and exciting to bring something back to life with your touch of style. Awesome video! I just wish the fixer uppers were more cheaper than what is ask, mainly because money, time, energy, and a lot of caring/nurturing must be poured into the home. If there's a such thing please let us know 😊
How you went into that moldy stank house with no respirator is bonkers.
The brickwork on that looks nice, shame it's been left to get this bad.
I like the brickwork - this house looks worth it to me to the right family overall
Hi there neighbor! I'm in New Orleans!
Could you please tell me what kind of camera you use ?
68k for a house like that? thats way too much for that rats nest...no thanks! Id rather build from scratch 1200 sq feet by my self in6 months...Zillow has plenty of houses like this for 5k all over upstate NY.
Who do you hire to do all the work? We had a terrible time trying to find a contractor to fix our home after hurricane Michael. The contractors only wanted to rebuild new homes not repair half a house that was damaged.
Even with a new house - wives will eventually want to knock down walls, remodel bathrooms, replace floors and kitchen appliances to suit their personal taste.
Why not just buy a lot and build one the same size house with no aggravations.
BUT WHAT'S THE NEIGHBORHOOD LIKE?
If this house was allowed to become such a dump that means rational, smart people saw that the surrounding area was in terminal decline. It wasn't worth putting money into THIS house, in THIS location.
This house NEVER had any remodeling or upgrading. My God it still has 1973 wood paneling.
Why?.....because this neighborhood probably went flat starting in late '80s and then really dropped in early 2000s. This went from being a "home", to being a "where I stay", to being a crack trap.
The street is substandard, no curbs, ditches not maintained. The city/parish has already legally "redlined" this area. City "knows" this area is a net negative tax drain. Quite apparent, only the most rudimentary attention paid to this neighborhood.
Best thing to do......just bulldoze it and keep lot mowed. That'll improve the neighborhood from further deterioration.
Before I make an offer on the house, I want to see a meth test. That could be the difference between gutting the house or knocking it down completely.
How does someone buy a foreclosure like this with one year employment at same employer and 3 years same industry
What kind of soil in that area? Clay?
How much is the smell o vision machine
Never figured ya need pro removal for mold though
5:30 The brick front wall of house has a muddy flood line...true?
Yes it does, from the location of where he said it is located it isn’t hard to believe. One thing I often do is ask the neighbors about the house before I buy. Most neighbors are happy to tell you everything they know about the house.
@@getintothewildwithjeffruma8777 Sometimes neighbors tell you "more" to try to keep you from buying it and hoping the price comes down more so they can afford to buy it. That just happened to me on a piece of raw land.
I would like to purchase a little foreclosure property near me. It definitely has a mold problem and needs a new roof. That’s before I can even live there. It’s been listed at 60K for a year and it’s not moving. Am I crazy to offer 35K as is?
You are free to off anything you like. Even a bank with a "fixed" set price will eventually come down. I've left a message to "call me when it reaches a certain amount. Remember, you can always go up in your offer. If you come in too high you can't take it back.
It’s never crazy to offer! You never know what that persons number is. They may even counter at an agreeable price!!
@@TheRealWayneTurner Thank you Wayne. I want to make this little place a sweet home for me and my kiddo. The grounds are very nice: .25 acre. The neighborhood is very quiet. It once was military housing for folks at the nearby decommissioned Air Force base. Many of these houses have been remuddled, but this little house is true to its roots. I think that’s why I like it so much. Nothing big or fussy about it at all.
Hi Michelle I hope my comment didn't sound as a form of privacy invasion your comment tells of a wonderful woman with a beautiful heart which led me to comment I don't normally write in the comment section but I think you deserve this compliment. If you don’t mind can we be friends? Thanks God bless you….🌹🌹
I flip and I think its rough
There is a lot of meat on that bone if you roll up your sleeves. Pulling $50K down in 6 months is realistic.
Tent it and call Tom rowe maybe 12 weeks gonna be sold
Or just pay cash and fix it up out of pocket.
why in these regeon nobody use bricks and concreate to build houses? It's prohibited by law?
Why is a foreclosure always trashed, when a foreclosure is just when the person doesn't make the payments on their house loan.
They take their personal failures out on the bank even though it ruins their credit further.
is the neighborhood not too scarry? it looks like you have to lock everything up anytime. EEeewwww A few tiles missing on the cieling ? ha ha thats an understatement , it looks like you have a roof leak and your ceiling needs completely replaced as with the roof. ! LOL
BTW, I want to buy this little 900 sq. ft. home to live in, not to flip. I think flipping homes is at the root of the housing crises in this country.
No, the root cause of the housing shortage is corporations buying up single-family homes to rent or to make a vacation rental. Take away the corporate tax write-offs for SFRs and VRs and that would disappear overnight.
@@dzerres Good point. I just wish people wouldn’t flip houses, though I guess they have every right to. I’m not someone with throw-away income. I’m a chef raising a disabled kid as a solo parent. I just want a little house for us. I’m sick of paying rent to mean old lady who just gambles it away at the casino.
Big mistake IMO.
Camera should be turned other way.
I'll keep that in mind