Anyways, right now their having trouble processing the idea that they lost over $100,000 in payments from this foreclosure, that their going to be without a home of their own for awhile, and any home they buy is going to be a fraction of what they used to own based upon wanting it paid off before retirement.

However to be as successful as you are it takes a commitment drive and some smarts...In many markets 20k on a flip is a very good day I know a lot of people talk about 40 to 60 to 100 but those are far and few between in our ultra competitive market..

I just did a post on my BP blog where I used the recent Pinal County Arizona tax lien auction results with my added data of Property Type to show how to analyze your competition for better results.I did it as a blog post since it is too long for the forum.

I agree with the folks that say you need to check the local competition and see if it is worth it.

So for me I shifted to a market just outside Orlando that has much better numbers (I probably should have been buying there earlier looking back).Flips in Orlando are getting more competitive as well, but easier to sell as retail buyers are entering the market in bigger numbers.

I hear people BMWing all the time about REOs and other MLS properties having too much competition, with the prices going too high.

That market is very very competitive.

They've gotten incredibly competitive out here, especially when I offer up a few more rentals in exchange for better pricing.

Your 6% sure feels like a lot of money but at the end of the day only a fraction of that comes home as net income.

Finding a reputable consultant can help because, instead of just getting just one quote, they will know how to create competition around your sale, and where the higher offers will be!