So I end up with land only that no one else bids on.Having it free and clear it does have equity value and with enough of those "purchased" I will put them in a portfolio for the bank to allow me a line of credit, with those as collateral, so that I can fight for those good homes to buy as investments then sell for my retirement nestegg.Not sure how long it will take as the good home will have to pay off the line of credit and provide enough extra for the next good home.

The stock market is too efficient.I prefer to spend more time on less efficient markets like RE where my extra knowledge and research will likely allow me to earn above average returns.

If you have a buyer list with serious investors that are actively looking for deas and know they have the financial firepower to pull the trigger and you show them a great deal that exactly meets their criteria you should be able to do the deal fast.Some extra advice, once you have serious buyers, speed the process up by helping them do the due dilligence.

I say it will eek down just a little bit more for about four to six months then stay pretty consistent for two years before prices start to climb back up again.

Each unit has 4 BRs and one has an extra half bath.Long term... to convert to single family--like mine.

Where is the extra $8k coming from?

Now, in the county where I work, there was some flooding last year right before tax time so the IRS allowed residents, and people who used accountants in the counties affected by flooding (IRS came out with a list) had an extra 2 months to file penalty and interest free.

I know there is a supposed extra layer of protection but if I have a 2 million dollar insurance policy is that good enough?

Just starting out with BP, but thought this would be an interesting post to start out with... 1) 97 Days from Acquisition to Flip Closing Purchased: $28K +Rehab: $28K +Interest to investor: $5K Sold: $100K -Realtor: $6K -Concessions: $6K ---------------------------- Net: a little over $26K 2) 105 Days from Acquisition to Flip Closing Purchased: $54K +Rehab: $6K +Interest to investor: $8K Sold: $100K -Realtor: $6K -Concessions: $6K ---------------------------- Net: a little over $22K (had to rent property due to FHA-90 day rule--made an extra $1K from it) 3) 32 Days from Acquisition to Flip Closing Purchased: $28K +Rehab: $0K +Interest to investor: $500 Sold: $35K -Realtor: $0K -Concessions: $0K ---------------------------- Net: a little over $6.5K REOs are fun when you can get good deals.

Why pay out extra money you don't have to and shouldn't have to!