Please post back and let us know about the smoking deal you negotiate!

@Rafael Floresta I haven't seen anyone bailing out because of it but, depending on how low your old assessment was, I'm sure it can be quite a hit for some.

Hi Joel,Thank you for your wise advices.Yes I read about J Scott, and also give a look on his website.I realize is quite difficult from afar, that's why i already was considering the best way to manage this flipping business is to use an experienced rehabber and split the profit, or partner with somebody experienced.I also imagine the marked is changing, and banks offer more harder REO's homes to investors, But if I buy cash (imagine around 50k) i think is not their problem what I'm doing with property later, no?

We buy and rehab quite a few houses, you dont need to worry about a pitch for me ...

Hi GuysAn interesting scenario:I am currently renting a nice house from a family member (i.e. using it as my home) for only £200/month (it would normally fetch £600-£700 per month on the open market).What I wonder is, should I:1. continue to rent it for quite cheap money and focus on building a property portfolio of rental property. i.e. invest the money saved from purchasing a property for myself to live in, in rental properties (i.e. rent out to tenants) and continue renting my own residence also at £200/month.2.

The other responses are spot it...education is key to getting a good start in this business and there are quite a few resources to teach you, BP being one of the absolute best.

Even if I lowered the price quite a bit, the place has some disadvantages; it is perfect for someone like me as a recreational property, but besides that it doesn't fit well into a different category - homestead, hunting, farming.

For investment properties, that's quite low, maybe 80% at the most.

I only had 2 rent houses for quite a while whilst I worked on building another business.

That happened quite by mistake.