I'm just getting started investing myself, but as a Phoenix local, I'm looking out of state as the potential for cash flow is much higher in markets other than those in my neck of the woods.

Around my neck of the woods, it seems lenders won't write conventional mortgages for less than 70-75k.

You've heard that old adage about a person who tries to represent themselves in a real estate transaction has a fool for a client....I think the market is pretty strong in my neck of the woods, and I am aiming to rehab a home in a way that takes into consideration what the target market will be looking for.So if I stage it, get it on a bunch of websites, maybe network, possibly put an ad in the paper, and do open houses, could I not sell in a decent amount of time for a decent price?

As an aside, my hat is off to you, buying at 38% of ARV is quite impressive, especially in your neck of the woods.

Really, I see them as neck and neck in many ways and have been for decades.

Daniel - There's a very large SoCal BP contingent . . . link up with @Will Barnard and he can start helping you connect with others in your neck of the woods.

Good to see someone right in my neck of the woods.

Suggestions: Gray, Green or bluewhat is most pravelent in that neck of the woods?

The collateral is worth 100K, the other 50K is outer space, not even blue sky, any discount starts there and a balloon requirement will make it worse as owner's equity is diminished or eliminated......unless that buyer is financially able to wright a check or pledge other assets to pay it off.I have also found that I get more prudent and better advice from attorneys who I don't have a personal relationship with as friends tend to stick their neck out a bit further in order to "help you", I can see the wheels turning, "oh, I can defend that matter for Bill" as opposed to doing things I don't have to defend.

I am trying not to be discouraging because it can be a very profitable (although it is almost not anymore in my neck of the woods) Practice by observing.