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Why is this property so cheap?

Originally posted by: quakefiend420
Originally posted by: FrustratedUser
OMG, crackheads in 3 out of 5 rooms (or is it 12?)
Click to expand...

fumigation should slear out that infestation...unless they just get really high and like it 😉
Click to expand...

By fumigation, you mean napalm, right?
 
Originally posted by: So
Originally posted by: quakefiend420
Originally posted by: FrustratedUser
OMG, crackheads in 3 out of 5 rooms (or is it 12?)
Click to expand...

fumigation should slear out that infestation...unless they just get really high and like it 😉
Click to expand...

By fumigation, you mean napalm, right?
Click to expand...

ehh..whatevers handy really...napalm, bug bombs, mustard gas...whatever

 
They probably left out that it's for rent. If it was $460 for real, you could buy it and no matter how sh*tty it was, you could just flatten the house and sell the land to some drug dealer.
 
OMG!!!

I gonna buy 12 of them, keep one and sell the rest on Ebay..

If they don't honor the price, then maybe they will give me a coupon or gift certificate..

 
It's multifamily, so there are various scenarios to which why it is so cheap.

There are plenty of places in Brooklyn that are down in the dumps. I've seen 4 family homes in some shady areas in Queens for about 500K.

Edit - Oops, 460, not 460K!
 
Just a typo..but $2 per month? Why don't you look into it. Call the realitor and get us an update.😕
 
Originally posted by: Adica
Just a typo..but $2 per month? Why don't you look into it. Call the realitor and get us an update.😕
Click to expand...

I dont live anywhere near there, I live in Louisiana.
 
Originally posted by: Adica
Just a typo..but $2 per month? Why don't you look into it. Call the realitor and get us an update.😕
Click to expand...

Realtor.com does an automatic calculation of example mortgage payment based on what number is input, so disregard that $2 entirely.

I'd say this is clearly a 460k typo/abbreviation.
 
I've been looking into these things. It is likely a foreclosed multi-unit property being sold at $460 per unit. Foreclosures often have to be sold at whatever price the previous owner owed on the house.

Problem with these is they get purchased real quick by investors and such (not to mention the cleaning and repairs that are necessary). Basically it's never going to be move-in condition at that price. Depending on the area, you may want to knock it down and build something else or just sell the land.

Of course, there is the one in a million chance that you could buy a clean, livable 12 room house with cash.
Check it out in person.
 
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