Which amps my take a little bit more.BTW, I strictly deal with houses less than $80K, generally lots of them in my neighborhood.

Some broken joists were just that (turns out the whole neighborhood was built from very knotty native pine, and everyone has the same issue).

Cruising neighborhoods and inquiring about properties that may seem dilapidated.

or, i'll drive through neighborhoods looking for disaster opportunities, number of houses for sale, neighborhood condition, and lanscaping/exterior finish ideas. i can't invest in another house until the end of the year, but the day i get back to the states i'll still be familiar with my market, and i'll be ready for the next adventure.

However you will find other investors in that area at these events.Check out my signature block.I know the CCIA is another group in Chicago, their main meeting is normally the 3rd Sunday of the month, but this month it is the 4th for some reason.But of course I am more partial to another organization.

Its in a good neighborhood, and its a good looking house.

One I had looked at the exterior of several months ago is now 3000 less, and the neighborhood would be okay--but it's still much more than what I would want to pay for it.

in the last few years, the number of rentals has skyrocketed there, and the OO's realized that a lot of people with no vested interest in the property don't take care of the neighborhood, and don't participate in the community.davebt, i know a lot of people made a lot of money on interest only loans and price speculation.

Comps that I viewed in the same area listed for 130K and in my opinion, in worse condition in a worse neighborhood with worse location.

"Our lenders must engage in loss mitigation efforts to help people stay in their homes, help to stabilize neighborhoods and prevent losses to FHA's Insurance Fund."