A few questions from a rookie..........

Anyone from Georgia?

Secondly, I bought two duplexes on nearly an acre of land in a bad neighborhood for $5,000 (they were REO’s), can or should I rehab them and set them up with Section 8?

Does anyone have any novel ideas on durable materials? Such as cement or ceramic tile countertops and plexiglass window panes…

Thank You and God Bless,

Howdy FutureREIlegend:

Just the kind of deals I like. CHEAP. Are you inside a city or are you in the county. We have different section 8 offices for outside the Austin city limits that are handled by the county.

What is the rehab estimate? You also have the option of selling to a rehabber or even forming a partnership to get them rehabbed and rented. If you have no construction background you may want to flip or get a partner. I am assuming they need structural repairs and not just carpet and paint.

And they’re located adjacent to Interstate 75 in Macon, GA, which is the city. I thought about possibly attempting to have them rezoned commercial and put up a billboard which would get me a 100 year lease of $5,000 to $10,000 a year for the billboard. I could then sell the lease at a compromised offer to establish some capital. What do you think?

Howdy FutureREIlegend:

I would prefer to manage a billboard instead of a couple low income duplexes. Maybe you can do both. The $10K per year sounds a bit steep. I leased one here in Austin for $1600 per month plus paid for the art work etc. I am thinking $5000 may even be a bit high.

for some other land in a similar place.