Exploring a $7,000 abandoned house (Trigger Warning)
Published: 2020-01-11
Status:
Available
|
Analyzed
Published: 2020-01-11
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker was encouraged by a friend named Sean to create a video about a property he purchased.
"My buddy Sean said that I should go do a video on it so here I am yes oh there's cats everywhere cool"
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A property was purchased for $7,000 by Sean and his partner Mark.
"it's a seven thousand dollar house here my buddy Sean and his fret partner mark just closed on this glorious house for seven thousand dollars"
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A 2-bedroom, 1-bathroom house with a full basement was purchased for $15,000, with an additional $15,000 invested, and it generates $650 per month in rent. The same tenant has been in place for approximately two years.
"I've got one a couple doors down from this one it's one of my best I bought by bought it for 15 I put another 15 in it and I've been getting 650 out of it it's a 2-1 with a full basement same tenant Herning it's a tenant two years ago ish"
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A plan to build an access road with large power lines behind the properties was considered but not executed, resulting in extra green space.
"they're gonna build a like a access road behind these they were looking at putting large power lines and stuff up and down like in potential ally but they they didn't go through with it so it's just an a bunch extra green space"
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The speaker is touring a house on approximately one-third of an acre to show what can be purchased for $7,000 in Ohio.
"the house I have to actually third of an acre so we're walking around unboxed the house and see what seven thousand dollars buys you in Ohio"
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For $7,000, the property is considered to be in a decent, though not the best, neighborhood.
"for seven thousand dollars and this is a good name I mean not the best neighborhood in town but it's also not bad"
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A similar property five doors down generates $650 per month in rent.
"I get 2 6 650 a month out of my - one down the street like five doors down"
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The house is considered a decent option for investors willing to overlook issues like dead animals.
"so I mean it's not a bad little house if you want to put up with dead animals and stuff like that"
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An anecdote is shared about a friend who, despite numerous evictions before age 18, successfully renovated six rentals and now owns 123 rentals and a hotel.
"one of my friends was evicted over a dozen times between birth and 18 he did a hundred percent of the work on us for six rentals and now he owns 123 rentals and a hotel"
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The speaker would tolerate an animal carcass in a $7,000 property.
"you know for $7,000 I would put up with an animal carcass with you guys here's the living room"
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The roof has two layers of shingles, with the top layer severely deteriorated, indicating a need for a complete roof replacement.
"so it's two layers of shingles on each other and the top layer is so disintegrated it's just kind of like down into the first layer so definitely the whole thing needs to be reroute"
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A new roof for the property is estimated to cost between $6,500 and $7,000, bringing the total investment to approximately $15,000.
"you could get a whole new roof on this place for probably 6500 maybe 7 grand so you're at 15,000 now"
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The speaker estimates the total cost, including repairs, could reach $32,000 to $32,500 for a 2-bedroom, 2-bathroom, or a 3-bedroom, 1-bathroom property.
"maybe another his estimate of 25 case probably writes a 32 maybe 32 5 4 2 2 or maybe a 3 1"
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The house is considered a potentially good investment if the buyer can tolerate unpleasant conditions such as dead animals.
"so I mean it's not a bad little house if you want to put up with dead animals and stuff like that"
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Making money in real estate requires hard work and tolerating difficult situations.
"it's one of those things if you want to make money you've got to work hard and put up with crap"
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The house is considered interesting, despite the presence of dead animals and other messes.
"so I think this is a pretty neat little house other than the dead animals or at least the dead animal in the crap and all that stuff"
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The speaker plans to upload graphic content related to the property's condition to Discord, as they have done previously for content that might be demonetized on YouTube.
"so yeah hopefully we won't be too demonetized on this one you guys can get on the discord and check out the the animal site because I'll I throw that kind of stuff you know where the people were doing stuff off the floor and they were getting it on laundromat and stuff like that"
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The video aims to show viewers the experience of buying inexpensive houses in Ohio and how to potentially profit from them.
"so you guys can see what it's like to buy cheap houses in Ohio and how to hopefully make a bunch of money and do well"
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