Comments on: Buying a House for Four Figures http://tightfistedmiser.com/2009/11/25/buying-a-house-for-four-figures/ Extreme Frugality - How to Live Well on Very Little Fri, 19 Mar 2010 18:19:42 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: My Frugal Miser http://tightfistedmiser.com/2009/11/25/buying-a-house-for-four-figures/comment-page-1/#comment-41725 My Frugal Miser Thu, 26 Nov 2009 16:08:11 +0000 http://tightfistedmiser.com/?p=1662#comment-41725 Don't give up as there will be many opportunities to come. Many banks are either holding foreclosures or deferring the foreclosure process because of the glut of homes out there. Unfortunately, my mom lost her house... or will be losing it. She actually moved out in March 2008 after getting behind several payments. Here it is November 2009 and it still hasn't officially been foreclosed on. My best find thus far was a HUD foreclosure. It was a 2/1 condo in a middle class neighborhood built in the mid 80s. I paid $18,500 for it and invested a little over $3,000 in improvements. So $21,500 or so is my basis. I'm renting it out for $575 per month. I would recommend you find out which company in KC handles HUD foreclosures if you don't already know. I've purchased three homes through their auction process and have been quite happy. Don’t give up as there will be many opportunities to come. Many banks are either holding foreclosures or deferring the foreclosure process because of the glut of homes out there. Unfortunately, my mom lost her house… or will be losing it. She actually moved out in March 2008 after getting behind several payments. Here it is November 2009 and it still hasn’t officially been foreclosed on.

My best find thus far was a HUD foreclosure. It was a 2/1 condo in a middle class neighborhood built in the mid 80s. I paid $18,500 for it and invested a little over $3,000 in improvements. So $21,500 or so is my basis. I’m renting it out for $575 per month.

I would recommend you find out which company in KC handles HUD foreclosures if you don’t already know. I’ve purchased three homes through their auction process and have been quite happy.

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