@Cody Evans@Sean OToole  Cody this is off topic so OP don't yell at me.. but any one working distressed real estate on the west coast the very first thing they need is Property radar app .. hands down the best tool out there.. we snagged an off market deal last year that has over 300k in equity.Of course we pay cash that helps.. but this tool is super cool the info at your finger tips and it so cheap as to be a no brainer..

I Just had a lady call me on a deal we did 6 years ago for and she always calls me for anyone in distress, or needs to sell (that one was from a lender that knew I did flips). 

Obviously the key to a successful flip is to find solutions for the distressed person. 

Unfortunately most Realtors don't have a broad knowledge of bidding on REO's, HUD's or distressed property.

You only really have a couple of options.HELOC/LOC with the property as security.Refinance the first and walk away with a bigger first.A great way to get into properties with little money down though is to buy distressed assets at a discount, force appreciate them, and refinance to pull the cash out.

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There exist several distressed apartments buildings in downtown Lisbon (1-6 units) from 300-500k needing refurbishment with an average refurbishment cost of 20-30k max per building.

Since the start of the year, I've read a handful of BP books:- Rental Property Investing (Brandon Turner)- How to Invest in Real Estate (Brandon Turner/Josh Dorkin)- Investing in Real Estate with No (and Low) Money Down (Brandon Turner)- BRRRR (David Greene)- Multifamily Millionaire Volume 1 (Brandon Turner/Brian Murray)- Start with Strategy (Dave Meyer), currently readingI was thinking of using the equity to BRRRR small multifamily properties and combine some concepts from both the BRRRR and Multifamily Millionaire books (specifically making cash offers via HELOC to secure distressed properties, ideally vacant to set market rents).

I have a huge passion for fixing up properties in distressed neighborhoods to help the exact problem you are preaching about.In my opinion, we need more incentives to fix up these properties rather than build new ones.

Similarly Market Supply has remained at a more healthy value, but is not indicating any issue or distress of the market.