I found some about 100 pre forclosures in my area, and sent out some letters. Weve gotten about 14 relies and a few of those are some decent opportunities. We picked 1 condo that we can purchase for about $150k below market value. Its definately a great deal but i am still not sure if it makes sense because of the shaky market.
Also its southern california and in avery nice area so the investment is pretty big and makes it a little bit risky. I post a follow up if we decide to pull the trigger and go for it.

i live in the sounther california area, so i know that prices can be extremely steep. You should check the neighborhood and make sure there arent too many other homes for sale in that area. Flippin a house may not be the best possible thing to do right now.
Im personally looking for rentals. I think they are going to pick up because less people can afford a home. but everyone needs a place to live.