Experience has shown me that people in foreclosure some times do not think rationally and many times are in denial.What has been effective in the past is to mail postcards to a general area of smaller older houses simply saying that you buy houses and can close at their convenience when they want.

I am not willing to gamble that much to be the one that ends up being the case law around it.

I won't gamble money that my family needs for the necessities, but the money I'm using should go to paying off bills and filling an IRA.

Its hard to gamble with downtown right now when there is some very strong potential just in the normal market.And when you state that the current projects are doing fairly, if not very, well, I think that is very relative also.

buying re, and basing all your profit (and success) on the possibility of it appreciating sounds more like gambling then investing.

Then, they are going to agree on an option price that's above market *and* doesn't mind putting down a 5K non-refundable deposit to take the gamble that he's going to be able to fix any problems that wouldn't allow him to buy that house outright in the first place.

If you are gambling on the property appreciating then you are just gambling.

but guaranteed appreciation isn't likely, so you're really kind of gambling...

Although you have to work odd hours to convenience clients, you also have flexibility in taking time for yourself when you likely would not be able to if you were working a typical 9-5.

Now, if there is some concerted efforts by foreigners to buy up Detroit, that is interesting, but a huge gamble IMO.