Then you would be forced out of the house to find a job, and then low and behold you will be back in real estate, talking to me on BP as a depressed real estate guy.You have good problems my friend, now it's time to start prioritizing.

You can go by median household salary , I think its $80k, so what ever top 30% is in OC that a good indicator.Last crash was due to the load process and people claiming to make what they didnt really make, it was the same thing that  led to Great Depression, the loan process has changed, so this correction is going to be town buying), or an unemployment crisis.

Most homes were foreclosed on especially when the great depression hit.

How many Uber wealthy young adults that were born into money have you heard about with drug problems, depression, etc...If you can strike a balance between, time, work, family, and have a fulfilling life... you have found freedom, peace and happiness.

Just be cautious with your numbers because it's still a fairly depressed area.

Town is depressed (slowly coming back) has a population of circa 50K and is a working class town.

Obviously, in areas where pricing has been recently depressed due to economic or other conditions, there is usually more opportunity. but without a strong team and enough knowledge you can end up with mediocre result anyhow.

Rene, is right, proforma numbers are not real, they are are typically a best case scenario of what the property could bring and are based on projected returns and either depress or completely omit, things like vacancy, maintenance, increased utilities, management fees and ground maintenance.

I mean it more in the context of my earlier years selling real estate.. and selling homes that were lived in for decades as they got old and could not care for it anymore and moved out.. many times its leads to depression and will to live issues and they end up passing away .I just went through it with my mother last month.. end of life  and her number one wish was to remain in her apartment were she had all these friends and neighbors ..

It's like my grandparents who lived through the depression so they wouldn't even throw away a newspaper.