Harder hit the market, bigger the doscount.

Jason hit the nail on the head.

I think jbock must have hit the "new topic" button instead of reply.

I can honestly tell you that the myth the gurus are spreading around that you can purchase REO properties at 50-75% of after repairs value is just as much a myth and as rare as hitting the lottery in California specially.

Have to have some major issues all the time to hit those numbers...Let me know how this goes/went.

Thats good to hear Flipper, I work hard to make most of my customers happy, KM is definitly getting hit hard like the other paint stores and contractors, some good guys I know getting hurt right now, went through it myself sometime back.

This is a major hit, because not only is your income subject to being taxed as normal income, but you may also be subject to an additional 15.3% self-employment tax.

I went through the same thing 2 years ago, 8 months with almost nothing, got hit first because I was doing repairs for water damage/ mold on new homes for big devolopers ( D.R.

Can you afford to carry the debt service if the AA tenant hits hard economic times and files bankruptcy?

The banks are discounting the properties at the sheriffs sale, writting down a partial loss prior to the property hitting the market.