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The other side of coin is that it's very hard to find good renters. Anyone with slightest record of financial responsibility is buying a home.
If you are a cycle investor you buy near bottom and sell near top.
Is this top in some areas? I can't say, but when homes are selling a few hours after being listed it would seem to indicate that we can see top from here.
If you are in a hot area it is perfect time to buy and flip.
Start walking neighborhoods in early evening and weekends. Knock on every door asking, "Are you folks with a home for sale? Do you know of anyone who would be interested in a fast sale?"
You will find properties! Some you may be able to sell within 5 or 6 days. Racking up a profit of five grand a week is not impossible... if you are willing to put in work.
With buy and flip you don't have to worry whether or not a top is near. Using options just about eliminates any possible risk. And a fast flip can be generated using "How to Make Money In Real Estate Without Owning Property" system.
There's money to be made... if you are nimble.
Mark Walters is a real estate investor in Arizona. He uses options in his investing program as explained here http://digbig.com/4cefc