He cashes in on cheap, shabby homes from his front porch according to ABC news:
“I do most of my buying from right here,” said Barnes, while sitting on the porch. “I do whatever I want to do. If I want to go fishing, I go fishing. As long as I have a cell phone and a computer, I’m happy.”
Banks all across the country call Barnes when they want to unload hard-to-sell properties in bulk. They know he’ll buy anything — but at a rock bottom price.
That’s because the houses he purchases are in the most distressed parts of the country. Barnes has bought and sold thousands of them over the years, some nice, some not so nice. Most are small and often plain, and all share the same forlorn look of loss.
“[I] bought them for 20 cents on the dollar, or maybe 10,” said Barnes. “Do you really care when you’re buying that cheap, and it’s a piece of real estate? I don’t care.”
This is truly a “rags to riches in real estate story” and well worth your study if real estate is your game.
He works with investors who buy what he picks up if he can’t sell it. Perhaps he can find some cheap real estate for you?0
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