I'm a 22 year old man from NYC who currently lives in Des Moines, Iowa. I own one paid off house in Des Moines, a fixer-upper I bought in early 2008 for 18,000 dollars cash. The house is paid off. It
s a 6 bedroom 2,600 square foot house.

I have been making renovations with the house since I purchased it. My plan for the house is to rent it out on a room by room basis as I finish renovations. When the market clears up, I'll sell.

In the meantime, I have been thinking about buying another house while the market is so weak, houses in Des Moines are VERY cheap right now. I believe I can steal a house that doesn't need THAT much work for 15K or so, honestly. I will pay for the house in all cash.

Im a low income guy, my work is off the books, but I'd estimate a yearly income at around 20-25K a year. I have mastered the art of living on rice and beans so despite my low income, I still manage to save the majority of my income.

What do you guys think of me buying another house in the Des Moines area at the present time? Your feedback is greatly appreciated!!