And those that do invest don't in SF & CA.

I am doing a cash out refinance (leaving 25%) to buy two more houses in california.

My parents were basically the kings of doing this while I was growing up; they would move every 3 years to take advantage.I like the idea of only holding for 2-3 years and then being able to sell tax free.

In the 90's in CA there were offers of $40,000 for singlewides that were worth less than $10,000 then were then pulled out and replaced with doublewides (worth about $40,000) that were then rented at substantially higher rates.

https://www.redfin.com/CA/Los-Angeles/1461-W-30th-...

I got my California sales license within 2 weeks of turning 18  ( must be 18 in most states) I worked as an agent for 2 years then got my brokers at 20.. took me about 3 months to finally close my first deal.. within a year as stated I was making 3 to 7k a month in commissions this is in 1975.  

Hey everyone I just signed up. I am new to San Diego just moved her about a month ago. I am looking to start investing in real estate. I am curently a real estate licensee. If you know anyone in the San Diego area or ...

@Pari Thiagasundaram  are you sure you have all your numbers correct.for instance were is this property... if it has that kind of value might it be in CA.. or one other high value market.. no reason for the note holder to discount this at all. what are they going to do with a whopping 5800 dollars...

I am from California so I am not too familiar on land value over there.  

It could have been Buffalo, Tulsa, BHam, Indy, Toledo, Detroit, Stockton or Fresno, CA.