Purchase price: $115,000 Cash invested: $10,000 Large duplex with large yard in improving neighborhood near new casino.

Since all my family still resides in Texas and I am there frequently, I am wanting to make that my first property.

Again I would still defer to a loan advisor on this because they deal this these guidelines more frequently. 

We have deals here, but they are becoming less frequent b/c homeowners/investors know they have an in-demand product.

I visit Hayward/San Leandro frequently.  

There are rumors that a casino may be go in there, but as of now the official position is that is not going to happen. 

BUT now i feel like i stumbled into a great oppurtunity. about a year ago my father sold his auto repair business and building to Wynn resorts as they built a Casino across the street. i convinved him to 1031 exchange his way into some properties (4 small multi's, almost $4mil worth) and i now help manage them. he is rather fed up with one of the the houses which is a "C" building at best. and wants to sell it to a developer.OK now the good stuff. he bought this home for 800k roughly, its about 8,000 sq/ft lot with a 2700sq/ft 3 family home on it, the house makes money but it is too problematic. he spoke to an agent who said if he gets plans and approval they'll get him 1.5mil, this seems a bit high to me but i can imagine its possible. i was going to shop the property around to developers for him until i thought, wait i've heard of syndicating deals on the podcast... why cant i do this?

It feels like an asset class that an investor would need to visitore frequently.

This is an offer we receive frequently in my company.

That's like saying you went to the casino and won $10,000 playing BlackJack, then lost lost it and ended up negative,...but you won playing BJ.