You make 'em dig their own.

How am I the only one loling at this idea? Ever heard of diversification? Most houses in Vegas are cheap POSes (my father is a home builder and I've been inside of many houses in Vegas) located in the middle of the freaking desert where the economy is based on people blowing their money. Like I said, lol.

Awesome.

Wonder how different Goodfellas would be with this as the opening line.

I guess you just have a refined sense of humor. NOBODY ELSE is loling at anything in this entire thread.

This is quite possibly the most ludicrous thing I have ever read unless in fact you are 12 years old.

From an investment standpoint I think it would be a terrible proposition. If they are unoccupied or in foreclosure I doubt they must be very desirable.

Also don't you have to disclose if someone was murdered in the property to the prospective buyer?

I don't really see why, tbh. Seems like one of those bull**** touchy-feely things. Would I have to disclose if someone died peacefully? A dog got run over in the driveway? An eagle once dropped the remnants of a badger onto the roof?

Because it could be considered a material fact that impacts the value of the property. Typically there is a SoL of a certain number of years that really isn't high -- typically three in most jurisdictions but sometimes as much as ten. The death also had to be special -- murder and I think is some places stuff like AIDS also needs to be reported. For liability purposes it is just better to disclose any death that is within the SoL period and avoid the whole is it a material death or not.

Yeah if by ''touch feely things'' you mean morally the right thing to do, then perhaps you are correct.

There is a distinct difference between someone passing away peacefully and someone getting killed in the property.

In terms of what level of disclosure should occur (I guess that's what you were getting at with the whole badger thing?) this is an obvious grey area. I mean you wouldn't be expected to say that there is a crack in the wall or a broken pipe etc but this is why people carry out building inspections

SOUL OWNED

Sounds like nice big houses. Have to be a reason why theyre so cheap. Crackheads in the area and welfare ran out?

whilst on the subject of digging, a friend claims that someone on his road once did the following:

1) Dug a big hole in his garden. (He was bored.)

2) Looked for something that would fit into the hole.

3) Drove his car into the hole. (It fit in the hole, and he was bored.)

4) Realised at this point that he couldn't drive his car out of the hole.

5) Buried the car.

6) Reported the car stolen.

7) Bought a new car with the insurance.

Maybe I'm just a cold, unfeeling robot, but I could not give less of a **** about something like that without some sort of surgery.

The distinct difference is all about touchy feely stuff. The only thing changed by whether you're informed or not is ... the fact that you know about something. It's not like a black widow infestation, the fact that your house is built on a toxic dump, or the fact that once a month an Antonov is gonna buzz your house on the way to a landing strip.

I'll give you the "morally right" argument, because I guess people are that sensitive about it. I wouldn't give a ****.

How do you drive a car into a hole - without doing damage, since it sounds like he assumed that he would be able to get it out later - but not be able to drive it back out?

If anyone wants to see the houses I was planning on doing this with they will be featured tonight on flip pin Vegas on a&e

I ended up moving to a different house since I planned on doing this so it will be interesting to see what they do with them

Glad to see A&E is staying with their mission of highbrow entertainment.

Was I right about Pahrump?

Edit: JFC there's an entire show called Flipping Vegas? Armageddon is nigh. Which episode are you talking about? Yancey's Eleven?

Yea yanceys 11. It cost him total about 1.1 mil so my estimatre of 1.75 was prolly good considering all the underground work that would go to connect them and considering 2012 prices are much lower than 2010

Biggest mistake of my life letting this deal fall through and now I have to watch someone succeed off of it

And it was in lake las Vegas. The developer ran out of money and everything fell into foreclosure that wasn't occupied

So you're saying this episode is based on the exact same houses you were thinking about buying? Or just the same concept?

Same exact houses

Why did you want to spend $1.7 million for these homes for "fun" and do weird things to them as opposed to buying/building a house on a beautiful piece of land with a few ridiculous bells and whistles and built in toys?

It seems you never really once mentioned this as an investment opportunity, but rather a weird project to which you would actually destroy the potential investment return in acquiring these properties.

I mean, now you are saying biggest mistake of your life in not buying these.

Well, had you bought them and dug underground tunnels and started converting one house into a giant movie theater and all the other weird crap you would have done, you would have wasted a ton of money in the process of destroying the resale value.

So, I'd say this was the best mistake of your life unless you wanted to lose a ton of money.

this is one the best and worst ideas ever.

Dude in the show bought 11 houses for $380k, be glad you didn't go through with your plan at that price.

Okay things are really starting to not compute now. Yancey said they're all from From 1200' to 1600'. There are definitely no pools. Most of the kitchens are unfinished. The houses were all abandoned by the developer in different states of completion, so I don't see how any of them could have "obvious additions".

Note to self: if you buy 11 houses, some of which have no road, you might want to research whether they also have water, sewers, electricity – and what other improvements the city is going to force you to make. I'm assuming Yancey actually researched this stuff, but he just left it to the show for dramatic effect. Either that are the guy is a moron.

i was including price of renovation + building super awesome underground tunnels in the 1.71 mil

No you weren't. You said that was the purchase price.

What about the difference in square footage and the lack of pools?

I think you're just completely full of ****.

The show is kind of fun. But I could see myself getting bored with it after three or four episodes of the same thing. I used to do a lot of that stuff as an unskilled laborer. I kind of miss not being cooped up in an office all day, and the satisfaction of working with your hands. Although I sure as hell don't miss doing demolition on 100 degree humid Kansas City summer days.

Well supposedly the dude make around $700K profit for 45 days worth of work. I don't know what the maximum risk was if everything went completely worst-case scenario. Maybe lose $500k? But if he almost always turns some profit, that's a hell of an ROI.