:DNot sure if that's serious or a joke, but I do have an entire second book on that topic!  

Greetings,Can someone explain what the underlined phrase below means in simpler English?

What a joke!

This book is a joke!

If my semi-joking narrative above has any truth to it, landlords buying today up there will be happy campers in 3 or 5 or 10 years when the housing crisis hits.

By the way, using phrases like "...small multis (duplex/triplex/4 plex)..." doesn't fly well in the US where 1-4 family property is considered single family by almost all banks because of GSE designations.

I agree with John and Daniel that mostly your efforts should be focused on finding deals, but you do need to start building buyer relationships right away - you definitely need buyers, and finding one with no time to spare (after you get a contract signed) can be challenging.Google the typical REI phrases like "sell my house fast" etc. and call the top ones - tell them you have a deal IN THE WORKS (typical 3/2/2 blah blah blah) and you just want to see if they will be interested if you get it under contract.  

Maybe a little less than the Texas homes but know nothing firsthand of the state/area beyond the internet and what the agent tells me.California - feels like a joke for this new investor.

Most appraisers are a joke anyway as they are more worried about job security rather than providing a genuine opinion on the fare market value.They protect their A$$ by using foreclosed properties as comps just to come $10,000(minimum) under.We lost a deal (And it was the last finance sale we did) 2 years ago after an appraiser appraised one of our properties at $20,000 under our asking price.We disputed and paid out of pocket for 3 independent appraisals (Cost us $2,000) and they all came in at price or higher.The lender refused to re-do the appraisal as they have the power to do what they want at their own discretion.Bloody joke lolThanks for reading my rant and much success

That is what we call a "dad joke" in my family. ;) Haha