Part 3- Investing 101: An Ugly Duckling Can Be A Golden Goose!
(Image sourced from "The Daily Mail on a hoarders home in Somerset http://www.dailymail.co.uk/news/article-3212816/Carry-cluttering-Council-admits-t-hoarder-s-garden-eyesore-littered-dozens-old-doors-windows.html)
When researching these tax foreclosure sales that I've been sharing with you all in the last several #steemit posts, you will want to keep an eye out for the Ugly Ducklings.
What's an Ugly Duckling? It's those properties that are not necessarily your magazine style features or those large acreages with manicured lawns and champion racing horses happily munching away in the evergreen fields. Ugly Ducklings are parcels that are the not-so-pretty lots or houses but are situated in the best neighborhoods.
For example: once I got a house in KC for a little over $1K and it turned out to be condemned & a tree had fell on it....it was a horrible mess, however, there was a scrapyard & a train station next door...doesn't seem like a good investment right off the bat, right? However, the scrapyard owner wanted THAT lot for more parking space & wanted to buy it for $5K cash!
So just because it's not picturesque doesn't mean you can't turn an ugly duckling into a golden goose!
Start looking in your own areas, see those vacant lots? Old abandoned houses_? That old workshop on the corner that hasn't been in operation for over a decade? Those may be Ugly Ducklings that could be potential golden geese!
Is there any that intrigue you? Go to the county courthouse with the address (or neighbors) and get some info on who owns it, tax amounts from the tax collector & to whom the tax statements go to because that person may just be willing to sell that for a low price.
Now when you're in the know about what may be coming through an area, #research in where you #buy because that old fallen down house on the corner of the new four lane may just be where the next hotel, #McDonalds or gas station may be going! (McDonald's usually takes the best real estate in town! Location! Location! Location!)
Any questions? Just ask! #Resteem. #UpVote & follow for more, thanks!
#investing #money #diy #realestate #moneymatters #N00bInvesting #steemit #ugkyducklingsgoldengoose