I bought a very old lovely house for $25k. It needed work plus the wiring and plumbing were old. The neighborhood was trying to go down but I rallied the good neighbors and we reclaimed the area. Next I put on a new roof and did a lot of tuckpointing. It was a small house with high ceilings and an outside door in every room. It had ornate brickwork and trim plus a cupola over a quarter of the house. I loved it and was delighted to bring it into this century and see it last for another hundred years or so.
They are located in areas in places like Detroit where you can be killed just walking out of your house. Plus the house is a former crack house and in such bad condition it is not liveable
A decent house is going to cost you $250,000 anywhere you'd want to live
Most of the cheap houses are in undesirable areas, and many need a lot of repair.
Location?
Condition?
Job prospects in the area?
Potential liens on the house?
Those are inexpensive, I suspect there are good reasons why they are so inexpensive.
there are some under $50K but not many single family homes, however, there are many mobile homes under $25K everywhere in USA
do you wanna live downtown with the crack whores....do you want to live within walking distance for upscale downtown clubs....and walk home alone drunk
nobody wants to live there
Many are under $50,000 and some are under $25,000 which is crazy. Are they scams? Most of the ads don't mention anything wrong with the properties. At least with the ones in the $25-$50k range. They are just old and located in downtown areas.
