HUD Foreclosures | Nice Homes that ARE TERRIBLE Deals
On this Systems Saturday, John Cochran will be walking you through a NICE HUD home where the numbers make complete sense to buy, but John knows it’s TOXIC and will lose money on the deal. Enjoy walking through AND never getting involved in a Real Estate deal like this that would fool many Investors.
0:00Now if you dig this System Saturdays you have to get to one of our live events nothing but 0:042 full days 0:05of pure pack content you're gonna able to love to . . . 0:09. . dude it is getting cold 0:16I did everything myself in here, that is not how'd you do 0:20the business. And that right there is a house that I have already flipped 0:24as well. I already know that I can flip this house to a buyer on my buyers list 0:28coz I got a strong buyers list in this area 0:34Hey guys John Cochran here and today is System Saturday the day that I bring you 0:38a system that I use in my business 0:39that you can rip off, duplicate using your own local market 0:43now if you dig this System Saturday sessions you never seen anything yet you 0:46gotta get to one of our live events so I can 0:48way out our entire business so that you can take a blueprint home 0:52and do the same exact thing that I do. Now today we're in Centerville Ohio, on 0:56today's 0:56session I'm gonna blow your mind, I'm gonna blow your mind were in Centerville Ohio 1:01in a great area and this property right here the COMPs are great 1:05everything's great but I'm not gonna buy this property so I wanna take you 1:09inside 1:09and i wanna show you what I look for and why there's no way that I would ever 1:13buy this property so 1:14let's go inside here and see if you can pick it out 1:17because it's pretty plain as day to me so 1:21again great area here and nice open floor plan, open floor plan 1:26which everybody loves okay, you walk in here it's got some stains in the carpet 1:30but that doesn't bother me 1:32that doesn't bother me, does that bother you? No it doesn't bother me 1:35you come right in here and you got a nice fireplace 1:39okay so nice fireplace does it work or not? I don't know but is this why I wouldn't buy 1:44property? No, this is not the reason why I would not buy this property 1:48you're coming right in here to the kitchen, it's actually a decent size 1:52kitchen 1:53okay it's actually decent size kitchen or it's cabinet 1:56probably from the 1980s somewhere around there 2:00is that why I wouldn't buy this property because the cabinets? No that's not why wouldn't buy 2:05this property 2:06What about the countertop, countertops just plane 2:09base countertop? Do you think this is why I wouldn't buy it? 2:13No this isn't it either. So right come in here you have a 2:17you have your laundry area which is awesome in a unit like this because 2:22you know, having in . . In a complex right here 2:26is just good for. . for everything. Come in here to the garage 2:30nice paint and floor and everything... love it! Bathroom, 2:35so you got a bathroom right here, looks great! Looks absolutely great. 2:39There's nothing in there that scares me away from this property so 2:42what im gonna do is I'm going to take you up stairs, It wasn't the fireplace 2:45it wasn't the carpet, it wasn't the kitchen cabinet, it wasn't the countertop 2:49it wasn't the laundry, room it wasn't the garage, it wasn't that bathroom. . 2:53What is it? What is it, so let's go top 2:56Oh! it's the chandelier! that's what it is 3:00that's why I want. . No I'm just kidding, im just kidding. So let's go 3:04up stairs here and I'm gonna show you why 3:08I wouldn't buy this property. Alright so, 3:12first of all you come right in here and you have a nice 3:15purple bathroom. Okay, so it still not why wouldn't buy this probably I love it 3:20You come in here, you have a nice little study or 3:24your kids can play here, you're overlooking 3:27you know, the living room you're overlooking the living room. 3:30Okay, then you have the a closet right here 3:34great for your kids or what not right?. You come over here into 3:38the other bed room right here 3:41You come in here to the other bedroom big 3:44it's it's a nice it's it's big it's probably 12 like 15 3:49great size for a bedroom with a closet that is very very good size as well 3:54and that's why I would not buy this property 3:57it only has one bedroom, see the other one that was not technically a bedroom 4:02and that's, you cannot even make that a bedroom unless you put walls up 4:06so this is a one bedroom one-and-a-half bath 4:09Okay, so you might look into yourself, you might be thinking, why would you not buy that probably because of 4:15one bedroom? 4:15think about whenever your reselling this property okay? 4:18Your buyers list goes from everyone body who wants a 3 bedroom 4:22you know everybody wants 3 bedroom or more your buyers list is this big 4:26and then your buyers list at a 2 bedroom goes down 4:29okay then your buyers list a 1 bedroom is even smaller 4:32so why would I get involved in a property with a buyer's list that is 4:36that small 4:37when I can have that buyers list that big. The public 4:41does not want one-bedroom homes that is the only reason why I would not buy this 4:45property because it's in great shape. Because my buyers list would be too small on this. 4:50And I'm not willing to tackle it so guys I hope you enjoy and comment on the video 4:53below 4:54And I'll see you on the next System Saturday