I occasionally run into some leads in the area.So, what' the margin on non-performing notes?

I also have a family member who occasionally works with me on deals.

Occasionally I get leads from Austin.

It's good to occasionally enjoy the fruits of you labors.

I'm not personally affiliated with the group but I signed up for free notification years ago and occasionally run across good deals thru them.Another good place for leads is in the MLS searches: Back on the Market, Price Changes, Expired Lists ect..

There are some parts of town where house prices are over $100K, but most of those areas are in the burbs.I have occasionally seen houses selling for as low as $1K.

Was amused to see your instructor of a "Financial Planning" class take such a view of the Interest Only Option since it is a financial "tool" that can be useful to some people and should in fact be considered by some individuals to accomplish their "financial planning" goals.A few of the valid reasons why one might choose an interest only loan would be: 1) for an individual that has uneven income such as commission based or one that receives occasional large "bonus" checks that could be used to pay down principal.2) For one that is confident they will be making significantly more income in the future 3) One that truely has a plan to invest the savings in something that offers a higher return than would be realized in paying principal on a mortgage 4) possible tax benefits to one that needs the highest interest deduction to reduce their tax liabilityAlso, most interest only loans "recast" each month, meaning you only pay interest on the AMOUNT YOU OWE.

Any tax advantages become a bonus and even if your just getting $20-30 a month extra it will pay for the occasional leaky faucet or other minor repair.

http://www.1031commercialproperties.com This guy has Po's available occasionally and indicates they will go fast.

From the HUD appraisals I've seen, it's still based on comps in the area although this often doesn't seem to take into consideration the condition of the house.I've walked through torn-up dumps that needed 30-50K in work to get it back to normal and I've seen near pristine houses loaded with tons of upgrades for the neighborhood.I occasionally find the perfect storm of well below appraisal and in great condition in a neighborhood I think will pop in the near term.