Donald Trump is a Real Estate Investor that has changed the landscape of New York City with his business ventures over the course of the last few decades. Whether or not I endorse his politics, I can certainly admire his desire to better the place from whence he came. As a cash buyer in Charleston WV, I wander the streets with the same goal- Make My Neighborhood Great Again!
KING OF THE MOUNTAIN?
Today, I was tipped off on a potential deal by a fellow brother in Real Estate for a house on King Street in South Charleston WV. Like many of the homes now on King Street, this deal is a Foreclosure and would be listed in the low 20’s. At first I was reluctant to even consider driving down the street because I knew that it would not be a good investment based on how the houses have depreciated. King Street is a little one-way street that’s really tight (the Google Street View Car didn’t even want to drive down it) and has houses in a condition that are not typical for the zip code. By now, you might be wandering what the Donald and this blog has to do with the prices of eggs in China?( No pun intended)
For some reason, I had Talk Radio on and President-Elect Trump was being interviewed about something. I don’t recall exactly if it was about Nicole Kidman and her call to support the Donald or maybe it was a clip about Trump meeting with Steve Harvey but either way it triggered this question in my head, “What would Trump do with these homes on King Street?” Would he take the risk and buy up some blighted homes risking a negative ROI? Should I snag up a few of these homes in the low 20’s spending 60k or more and just make 8-10%? How much value does intrinsic value add to my ROR? Perhaps I could Stop Foreclosures from happening on this street? After all, King Street used to be a charming little street with quaint little homes and now I could possibly change that with the blessings the good Lord has bestowed upon me in Real Estate.
HARVEY HAR HAR!
After scouting out the house and the poor shape it was in I determined that “Making King Street Great Again” would take more work than “We Buy Houses WV” can handle at this time and still run a business. It’s a shame too as there are still some nice houses on the block that are just screaming for a little help. Ya know, I believe Steve Harvey is from West Virginia so perhaps he and Trump can do a Joint Venture and help us out?