Originally Posted by TidalWave

That's because its bullshit. You will waste more time looking for the "one" and pass up on many good offers in the mean time.

I have five houses I bought for $80K in Florida, that you can't even BUILD for that. The build costs alone are $130K+, even my homeowners insurance will not insure for less than that as their appraisers say theres no way they can rebuild these for less. Before the crash these were selling at $220K!
I bought them for $80K and I'm making 10% yearly on them, and its still not within the 5 year amortization he stated above. How much better of a deal can you expect to find??

I'd rather have multiple good deals, then waste my time and energy looking for a maybe once in a blue moon deal.

Every month he wastes looking for this magical pony, I'm making money on my already purchased houses.

$0 vs profit, which one is better?