My partner and I do that on the side. He does the labor, I keep the books and other stuff. We try to buy foreclosures and houses on the cheap. Our bank will loan us 85% of the tax value. We won't buy unless we can buy for 60% or less of the tax value. We borrow enough to thoroughly through the house to make it as nearly maintenance free for a few years as we can. We get enough rent to pay the taxes and mortgage, and stash a few $$$ away for repairs. We have an LLC set up so we can use the services of Veri-Check. It is what most rental companies use for tenant background checks. It takes a lot of work initially to get things right, but itis working out good for us so far.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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