If the trend continues where NODs and subsequently foreclosures will continue to creep up even under the current regime and let's say hypothetically stabilize at 2200 per month (about 50% of what it was prior to AB284) maybe a "soft landing" will just organically happen over time - it'll take a little longer to sort out - but the jarring effects of having another wild supply and price swing would be somewhat averted.

Try going to Wells Fargo and demand things, sure they will listen but defiantly have a laugh when you leave.

I do not want you to loose money --in first deal and get disappointed - first learn lot of things -- Contracts, assignments, transactional funding, Hard Money, Repair Costs , Soft costs etc-- Marketing Extensively --how ?

If they know they have a soft landlord, your bills will be the last to be paid.

So to figure where the rents should be, just work backwards by adding in all the expenses and see where the 120% mark lies.Finally, the commercial rental market is pretty soft right now.

Then you build a pro-forma of soft and hard costs and your targeted return and work you way backwards.

But typically a do it yourself job tends to well look like a do it yourself job compared to the professionals.With that being said, as you are busy doing the actual rehab, who is marketing either for buyers / tenants for the home.

When markets are soft and inventory is high, no one will build new houses.

In my area in Kentucky, were some real deals to be made 4th quarter 2006 and 1st quarter 2007 with it being a very strong buyer's market.But now, the market is a soft buyer's market and slowly transitioning to a balanced one I'd say sometime 1st or 2nd quarter 2008.

Ideally I'd like to hear the suggestions from the group of books that they have found helpful, and more importantly, have used in practice.I know that Wendy Patton has a book on this topic, but I just finished her new one (Hard Cash in a Soft Market) and I'd like to see who else may be out there.Thanks in advance -