So i brought a house in Trenton,NJ for 200 bucks...

[LuvKaya]

Interesting. Curious OP why did you buy across the country. I know it was only 200 but why not something closer where you can get to the property.

 

[dterpsss]

I think that's a waste of money. From what OP described, no one is buying in that area. Might as well sell it to a drug dealer for $3k and they can use it as a stash house

Why would they pay 3k if they can just squat and use it as a stash house for free

 

[Rawtid]

Why would they pay 3k if they can just squat and use it as a stash house for free

I was being optimistic.

 

[Amerikan Melanin]

They will be building Trenton up in the next 5-20 yrs. nj is one of the most densely populated states.

 

[Poh SIti Dawn]

Do you own the land too? Just sit on it

 

[theworldismine13]

im going up to NYC this weekend, ill try to go down to trenton and drive by the house at 50 miles per hour

 

[Swirv]

im going up to NYC this weekend, ill try to go down to trenton and drive by the house at 50 miles per hour

You should board up the house real good. Hire an asset protection company if you don't have the time.

 

[AB Ziggy]

They will be building Trenton up in the next 5-20 yrs. nj is one of the most densely populated states.

Property taxes in NJ are outrageous.

Why buy in Trenton, when you can find better deals in nearby Philly.

 

[theworldismine13]

ok

so i drove down to trenton to see "my" house and when i got there the house was being demolished . It was sunday and nobody was working but there was concrete and wood piled up. I called the demolishing company that had a sign up on a fence of the house and they said the city inspector had it demolished cuz it was a hazard

so from what i understand the city is gonna put a lean on the house for the price of demolishing it but ill call the city inspector to get more details

i cant really complain to the sellers since bid4assets says you have to do due diligence, so i dont have legal recourse through that, but i have to wonder if they knew the city was about to demolish it

the block itself was horrendous, almost all the houses looked abandoned, it was not so much gang shyt or particularly dangerous physically, it was just drug dealers and drug fiends crawling all over the other abandoned houses, dude in front of the house was cool when i graciously declined offers of cannibus and cocaine and i explained I was just checking out my property, he told me the city was demolishing other houses in the block

so thats about it, im basically stuck with an empty lot, a lein and property taxes, i think im gonna keep it for now, when you leave the block trenton didnt look too bad, maybe the block can come back in 5-10 years

i dont really regret anything, it was interesting and a good learning experience, i probably lost around $700 total

 

[MalikX]

My uncle did this but, in Chester. He brought like 7 different properties for $1,000 or around that figure for each house. Got neighborhood nikkas to help fix the houses up. Rented them out. Gave one of the houses to his wife to start a daycare. Now he just sits back all day...collects rent and chills. His wife also makes an ungodly amount at her daycare.

 

[AB Ziggy]

My uncle did this but, in Chester. He brought like 7 different properties for $1,000 or around that figure for each house. Got neighborhood nikkas to help fix the houses up. Rented them out. Gave one of the houses to his wife to start a daycare. Now he just sits back all day...collects rent and chills. His wife also makes an ungodly amount at her daycare.

What year was this?

 

[MalikX]

What year was this?

He started buying them in city auctions like 10 years ago...but Chester is the fukking ghetto so it's no surprise. I doubt the prices have rose that much because almost no one wants to live in Chester. Chester is a block by block town. Like some blocks are as bad as the worst ghettos in the country. Other blocks are normal urban black areas, you don't bother me I won't bother you type shyt. My uncle is from there so it's home to him. He has 7 properties IIRC. His wife turned one into a daycare. I forgot but, he also has a warehouse for his business but, I don't think he makes that much from it. Most of his income comes from the daycare and renting out the other properties. He made it work for him

 

[MajorVitaman]

My uncle did this but, in Chester. He brought like 7 different properties for $1,000 or around that figure for each house. Got neighborhood nikkas to help fix the houses up. Rented them out. Gave one of the houses to his wife to start a daycare. Now he just sits back all day...collects rent and chills. His wife also makes an ungodly amount at her daycare.

Chester PA?

 

[Responsible Allen Iverson]

ok

so i drove down to trenton to see "my" house and when i got there the house was being demolished . It was sunday and nobody was working but there was concrete and wood piled up. I called the demolishing company that had a sign up on a fence of the house and they said the city inspector had it demolished cuz it was a hazard

so from what i understand the city is gonna put a lean on the house for the price of demolishing it but ill call the city inspector to get more details

i cant really complain to the sellers since bid4assets says you have to do due diligence, so i dont have legal recourse through that, but i have to wonder if they knew the city was about to demolish it

the block itself was horrendous, almost all the houses looked abandoned, it was not so much gang shyt or particularly dangerous physically, it was just drug dealers and drug fiends crawling all over the other abandoned houses, dude in front of the house was cool when i graciously declined offers of cannibus and cocaine and i explained I was just checking out my property, he told me the city was demolishing other houses in the block

so thats about it, im basically stuck with an empty lot, a lein and property taxes, i think im gonna keep it for now, when you leave the block trenton didnt look too bad, maybe the block can come back in 5-10 years

i dont really regret anything, it was interesting and a good learning experience, i probably lost around $700 total

Do you still own the property?

 

[MajorVitaman]

Do you still own the property?

Thank you for bumping this

My uncle did this but, in Chester. He brought like 7 different properties for $1,000 or around that figure for each house. Got neighborhood nikkas to help fix the houses up. Rented them out. Gave one of the houses to his wife to start a daycare. Now he just sits back all day...collects rent and chills. His wife also makes an ungodly amount at her daycare.

Hows the business going for them? You stay in Chester now?