Salo_t, your method reminds me of a buddy from Michigan who bought rental property rather than a home during the RE downturn in the 70’s. He had a mentor who helped him. They looked at 14 apt bldgs and offered them exactly 1/2 what they were asking. About 6 of them balked, but 8 of them took him up on his offer. He paid cash, and the cash flow was tremendous, evidently because he lived very well off of them.
Ten years later, he more than tripled his money on selling them. Now lives comfortably here in SD with $100k per year bond interest, a nice paid for condo, and no debt. Oh…and his retirement age? 40.
Maybe we’ll see some deals like this over the next few years. You can make money when it’s going up and make it going down.
