She sells shells, see?

Checking the recent auction results at AJBilling, there have been some major steals lately. $10K, $5K, even $3K for rowhouses in Baltimore city. Even with a full gut rehab and six months of carrying costs, you could be into a rental prop for less than $75K that brings in $1,000 or even $1,200/month. Read that as $400 positive cash flow, possibly better. And some don't even look like full gut jobs.

I don't care who you are, that's a deal. It seems the key is to look for deposits of $5K or less.

I'm going to some auctions, and soon! Anyone want to tag along?

Anyone care to share a story of a recent auction experience? Comment away...

Another cool site

While Zillow is pretty cool, and I like Ziprealty too, my new fave is hotpads.com. I like their rent v buy feature. Most of all I like how you can cut right to the chase and see where the houses are, without all that annoying "create an account" crap. And it zips right along, too. Quite snappy.

Check it out.