(DANGER) Buying Really Cheap Houses…

Want to buy a house on a budget? Think again! The danger of buying a cheap house is real. From hidden structural damage to costly renovations, find out what you NEED TO KNOW before taking the plunge and investing in a cheap house.

The Truth Behind Property Ownership: Is The Land REALLY Yours? The Truth Behind Property Ownership: Is the Land REALLY Yours?

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*DISCLAIMER* The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.

[stephen]

This channel is a wealth of knowledge.

[paulorr]

Moved to Louisiana from Idaho to Get out of the real estate trap. Little did I realize, Louisiana has abandoned houses and an increased rate of poverty. There was a reason why some of the houses were cheaper. Still a great place to buy real estate nonetheless.

[mikerichards]

Thanks Wayne. You're exactly right. A "cheap" price is an attention catching technique that blinds people to the location. We often say, "I got to buy it. What a deal." Few legit deals are in the real estate market. Most cheap buys are overloaded with the proverbial "small print" that involve major issues that most of us need to avoid.

[larsmanson]

you're exactly right when I lived in south East Missouri I looked at a really nice place that had an indoor and out door swimming pool that set on 40 acres of land that was under a $100k but it had a chicken farm a mile away and that's a smell you don't won't to smell every day

[pepsilove]

another bit of info especially for people looking for houses in northern states, get ya chimney inspected/ cleaned real quick if you buy a cheap home. Seen many a house here go up in flames because the chimneys were so caked in crud that they became super heated turned the house into a fireball in less than 10 mins.

[datnohi]

So true 👍 I bought a brand new home for 105k sitting on two lots, what could possibly be wrong with this you might ask, how about central location from several Crack houses, a neighbor that feel they are entitled to park on your property, a woman stealing out of your Mai box daily, and one of the Crack houses being raided every week and doing so much business they block the road in front of your house, I sold that place and got out fast.

[markcollins]

Thank you for addressing cheap property. I have worked as a contractor for flipping various types of property including apartment complexes. From poor drainage to mold to paneling and drop ceilings always assume the worst and tear it out and bring it up to code. Just make sure you are selling a safe clean and compliant property and that takes cash$.

[lgooevk]

Or how about a dog 🐕 that barks all day and night. Or roosters that cackle non stop. Or annoying kids that yell and scream all day. Or a neighbor that wants to buddy up and become your new best friend. I have lived around all of those things and it's a nightmare.

[Thomasr]

The house across the street from my house got cement poured down the drain by a drug crazed squatter. The seller agent knew but did not disclose to the buyer in an as is sale. The buyer had to have 100’ of line trenched and replaced for something like $10, 000. The buyer eventually got the seller to pay.

[FastSloW-qtxf]

My first house I bought was located down wind from a paper mill, and across the street from a fire station... had great memories of that bachelor pad.

[gilldavidmour]

11:40 Are you serious? Wow..., some people!

[tombloemker]

I check for train tracks, approach path for aircraft runway and interstates. A hill on an interstate is prime jake brake use. Never again!
I also check for the taste of water, non-filtered, softened or conditioned water taste.

[ThatsTheWayItGoes]

Agreed. Very rarely is someone trying to give you the deal of the century.

[Andrumen]

Careful with buying close to (very) active railroads! With my wife we found a beautiful house, but it had a railroad going by 1/2 a mile away with trains going by every 3 hours or so....was a big: NOPE!

[reneeriley]

U cover so many things that need to be known yet nobody talks about. It’s really helping me know now b/c I’m getting ready to buy for myself & maybe a little future development. And I thought I was pretty savvy. Nope

[Theinsomniac]

5:14 My first home had a bad "old people" smell. I was the only person who wanted this house😂

I got rid of the smell by:

Throwing away the old ladys couches that she left behind. She passed away and her son sold me the house.

Cleaning the duct work.

Tossing all the old ladys things out of her pantry. She left behind sandwich bags and other kitchen items and the inside of the pantry had a strong "old lady" odor.

Throwing away her bed.

Opening all the windows.

Putting Freshwave Odor Removing Gel and bags of activated charcoal from Amazon in every room.

The smell took a few months but it went away.

[fiatcurrency]

Also, check to see if there's any arsenic in the water. Some areas of the country have naturally occurring toxins in well water.

[bonnieinla]

Thank you for this video! I cannot afford to buy where I am, and am in a looong search for a home in a less expensive part of the US. So by default I am looking in the Midwest/mid-Atlantic areas, and in my price range they are all older homes (1890-1950ish). You've provided a great 'checklist' for me to use. Some were known to me, some not. So thank you again!

[Sandwichking-hikes]

You are right about smell equals no sell. My first house I had 3 cats and got viewing complaints about cat litter box smell, I got rid of my cats when I heard that and within a week later had a good offer and sold it.

[jeffreyhansen]

Great job 👏
Ad in private airports
Or big airports
✈️ ✈️ ✈️ ✈️
Had friends the realtor would only show the house during a non-peak area of the incoming and outgoing planes
They moved in can’t even have conversations
Cheers

"laissez les bon temps rouler"