I came across something else he might like... http://www.housingwire.com/fastnews/2013/04/25/desire-masonic-temple-detroit-temple-foreclosure-auction?

Keep that desire for the life you want strong and be persistent!

Thought I'd share this one as it's a little juicy. 13354 La Venta Poway, CA 92064ARV - $480,000-$500,000 Repairs - $40,000-$50,000Sold for $370,000Buyer was stoked on the deal, very desirable house due to its location (great schools) being at the end of a court and a really cool layout.

I have a desire to invest and rehab properties while at the same time accumulating a half dozen rentals for my family over the next few years. 

If you have a strong desire to learn, a positive attitude, ability to take rejection, and a "do whatever it takes" attitude you can do it.

as someone who's treaded the wholesaling waters, so to speak..let me say that it takes a mentor, knowing ARV, negotiationg skills and the desire to be a bit of a masochist..Is it easy?

To figure out your maximum purchase price, subtract the desired cash flow (I use $100 per unit per month) from 1/2 of the gross rents.

@Ajay Kahlon I currently don't invest in Toronto(GTA) I did a few assignments on pre construction condos in Liberty Village back in the days.Couple of reasons why I don't invest locally in "Toronto"#1 Prices are too high#2 Toronto land transfer tax will eat your profit on a flip#3 Cap rates are too low hence return on investment or cash on cash will stay single digits on a hold factoring in vacancy rates and property management#4 not too many private deals#5 multiple offers on desirable areas (its like that everywhere)#6 little to no seller financing#7 minimal creative financing#8 Little to no cash flow relying on equity and appreciation to be positiveI was looking in Charlotte, Atlanta and many places in Texas but the prices sky rocket.Chicago and Columbus still have deals. 

It is Class A project in a desirable sub-market with low historic vacancy2.

Here are mine.1.In our presidents' apparent desire to turn our country into a socialistic state, he now has "appointed" nearly 3 dozen Czars and Czarinas, that have no one overseeing them, except obama.2.