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 - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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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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