We bid on these projects frequently and almost always lose to these folks because they are basically buying themselves a job and do a poor job of evaluating risk/reward payoffs.

Rehabbing is extremely rewarding work!

What a reward.

RewardIt is your determination as to the risk taken and the resulting reward, such as cash flow.

The time spent versus financial reward was a bust.

Is my risk worth the reward?

Risk - Reward and caution.

Therefore, you are taking on risk but rewarded much more than buying at a sheriff or trustee sale.

I also find it rewarding to talk CA investors with dumb landlord hubris off their suicide ledge.

They certainly offered to allow me to back out of the deal, despite the fact that the addendum indicated that they didn't have to (though my attorney thought we may be able to fight that in court).Regardless, I often put down $5K, $10K or even the full purchase price of the property in EM...while it does pose a little bit of risk that the cash will be tied up if the seller can't get clear title, I believe the rewards (getting some great deals over other buyers with higher offers and lower EM) was well worth it...