I Bought a House for $36k

Yes, that’s right and guess what it wasn’t a short sale or a foreclosure! Pasco County’s Port Richey has some great deals right now. We shopped them all and decided that we wanted a 2 bedroom 2 bath home with a garage for investment purposes. So we started out shopping all the short sales and bank owned property and then turned to the traditional listings. And, those short sales were not the best properties or in the end, the best deals. Many of the bank owned properties were sinkhole homes or had some settlement damage. And, while you can buy those properties even less than $36,000 they are a big risk and will always have a blemish on their reputation. The short sales and foreclosure properties were a mess. Even though it is our plan to remodel this home one thing we really liked about it was that it was not destroyed. Who says you can’t find a killer deal in Tampa Real Estate these days? Check out Pasco County Homes for the best deals.

Here’s some pictures of the “before” version. We will post the “after” pictures as soon as we have them. But, for now it’s off to Lowe’s and Home Depot for some paint!

20 Replies to “I Bought a House for $36k”

  1. Holy cow! That is kind of unbelievable. Is this house on a major thoroughfare or something? We have some houses priced like this but they are total dumps, not even remotely habitable and usually in very undesirable locations. With prices like these I may have to pick one up myself when I’m down in FL this weekend! Good luck to you and your Dad with the renovations. They look like they’ll be largely cosmetic.

  2. That’s an excellent deal for a house in that good of condition. 10 years ago, I bought a house in WAY worse condition for $90k. I’d love to snag up a deal like the one you found.

  3. Wow, $36k is like half of a nice car. i cannot believe you can do that there. WOW!

    How much rent can you get on a property like this? Is there even a rental market at all? If so, please sign me up. Seriously, if you can find me a house for $36k that doesn’t need more than $30k of work to get it ready to rent, and you can rent it out, i will seriously buy it next week.

    If you can do this, please tell me. serious.

  4. Isn’t it amazing how far prices have come down in Florida? How much was that home 3 years ago? $150k? Florida has become extremely affordable again. I see a whole new wave of buying over the next few years when lending and the economy stabilizes. There are some tremendous deals out there. Ironically enough though, when you show a buyer a great deal they still seem to want 30-40% off the asking price.

  5. Yes, a nice and cheap house you have got. With a small reforms and paintings (tasteless coulor in the living room and the green room) can you have a lovely little bungalow to a fantastic low price. Just to congratulation.

  6. Looks very similar to the deals you can get in Lee county right now. There is a local bank giving 2005 and newer built homes away for under 40k. Works out to be about a 75% discount. Good work in locating those.

  7. That is truly amazing. There is no way that you could buy a stick built home near Bellingham for under $150k. Out of curiosity, how much could you rent a $36k home for?

  8. Many of you have asked what this could be rented for. I estimate roughly $600 a month for as is condition and probably $800 – $900 a month once it is renovated. The home is currently being renovated by myself and my brother. We are 100% finished with the interior painting, 75% finished with the bathroom remodel, 25% finished with the kitchen remodel, and about 20% finished with the exterior painting. So far no surprises or delays and yes we are working very hard. If you need a reliable expert renovation specialist, don’t hesitate to contact my brother Len at Woodworks Flooring.

  9. “Who says you can’t find a killer deal in Tampa Real Estate these days?” Yes that is a killer deal indeed, but I have to admit that you are very lucky to get a home like that in just $36,000. Enjoy it with your family 🙂

  10. That’s a great price. With a little money and some hard work it should easily be worth double.
    Or you could rent it out for a pretty penny.

  11. Congrats on the home purchase and the great deal! 36K is a good deal and hopefully you will not have to put too much work into it. The big question is what is the insurance going to cost!!

  12. I used to live in Tampa and am amazed that you can buy a home in any condition for 36K. I may have to come there for a visit and look at real estate while I’m there. It sounds like this is the time to buy!

  13. Wow, that really is a steal based from the pictures. I have tried explaining to people that sometimes REO’s aren’t the best bargain and they don’t seem to want to believe that for some reason, but I think you’ve just well proven the point!

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