"The bidding starts at <60% FMV>"4) After you get some bids on Sunday and the open house is over, you start going through the bidder list and calling everyone bu the highest bidder offering them to outbid the highest bidder.5) You repeat step #4 until you bid up the price as high as you can.6) Meet with highest bidder and take a non-refundable deposit (specify this as a "condition" of the bid auction). 7) Close.The idea here is if the highest bidder flakes out, you still have a list of other bidders, everyone just $500 or so lower than the highest bidder.

I own real estate outside of CA, both in the country and internationally but have chosen to rent in Hermosa Beach due to the high cost to buy a home in coastal southern California.The apartment complex I live in was bought April 1st by an private equity company who gave all the residents a 60 day notice to vacate so they could due a total rehab.   

All Cash Flow Vehicles High Dividend StocksStock OptionsMortgage NotesReal Estate Debt InvestingLong Term RentalMid Term RentalHigh Yield Savings AccountI had the same amount after I sold off most of my rental properties and paid everything off, now I do all the above. 

This isn't my specialty but just my high level understanding.

I am going to share 5 updates that caught my eye that I feel will impact a lot, if not all investors in CO.    1. 

The stress caused by debt can impact your physical health.Pay off your debt.

@Alecia Loveless Also with a good job, doesn’t have to be high paying just has to be consistent and long term.

This type of real estate comes with high risk and high reward.

I would definitely get another quote for the work as that sounds high but would be a permanent solution in place with peace of mind moving forward. 

I highly recommend that you read The ABCs of Real Estate Investing by Ken McElroy.