If not - we will go into second stage negotiations to get a better price.Once we agree that the price is right - that is low enough to make an equity profit - we will than use my pro-active auction marketing system (one that I have used for over 20 years) to sell the property  - all cash in as is condition with NO contingencies with settlement in 30 days.We will advertise the property for sale for 3 weeks and than have a public auction - so as an example if we control the property for $100,000 and sell it for $120,000 - that means we make $20,000.How much do you make if we are successful in finding an assignee? 

I was in Butte looking at some low end properties to rehab. 6 plex for $100k?

The inventory is very low for multi-family in my market but rents are good and in high demand with a quality, stable job base here in our rural community.I have an opportunity to purchase a multi-family property from a gentleman who wants out of the business.  

@Eli Sunderland FHA is a great product.

Given the vague post, it's really hard to say.While I do work Riverside County and currently belong to the Estate Planning Counsel, I don't go out of my way to do business in the Palm Springs area because of the high price volatility during low economic times.

You are not going to purchase turnkey in the 50's in these areas.I am a big proponent of finding good houses in the low to mid 50's.

A pretty property with low equity should be the target.MLOs don't necessarily have to be a commercial property, just multi-family in my experience. 

The low inventory situation makes it harder to compete with cash buyers.  

My recommendation would be to get into the local REIA AZREIA.org they are one of the best in the country and you can learn tons and meet seem great contacts.I have looked at some of the 'flips' in scottsdale and in my opinion many of them are Subpar so if you produce a superior product than I would imagine that as long as you can find the right deal you will not have any problems.  

Hello all,Very envious of of the low-priced houses in all these US cities.