When things went "pop" south of the 49th and we watched them slide off the tracks, there was an about face in Ottawa (a slow one, but it did finally happen) and regulators for residential real estate financing started to reverse course.It is still easier to borrow to buy real estate than it was in the 80s and the unprecedented run of low - almost no - interest rates has helped fuel the continued rise of several real estate markets in the country which should have gone "pop" themselves some years ago.

Owning a lot of SFHs for cash means low levels of risk, but also lower levels of return, since cash locked into a home is only performing at the rate of return for that home, rather than leveraged for maximum return.

He said hd/lowes can sometimes beat him on the carpet + install initial price, but where they get you is the "Specialty Items" like tack strips and transitions that aren't included and are grossly overpriced.

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.  

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.

Income and Costs (all numbers are annual)Nominal rent - 43.6kActual rent - 37.3k (14.5% vacancy.  33% turnover rate)Management - 4.5k (10.6% - could bring down with a PM switch)Maintenance - 5.0k (11.6% - ok, older building and a fair amount of tenant turnover)CapEx - 2.4k (5.4% - mostly plumbing costs: is that a worry?)

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.