[maxtower]

I think its pretty clear you guys are arguing about two different things.

Spex appears to make money by finding super motivated sellers and buying houses below their intrinsic (not market) value. Intrinsic value in real estate is pretty easy to calculate if you know what the property will rent for.

People arguing against spex are talking more generally about the real estate market. You can't just go out and buy any random house because they are still so overvalued. Its tough to even make low ball offers, because the price is so disconnected from the true value (from rents) that sellers will laugh at you. Part of the problem is that even if the seller is motivated, they can't sell to you at a lowball offer, because they owe more than that on their mortgage, so they'll have to default anyway.

I would like to hear more about how to find motivated sellers who are willing to sell for a 30% discount off of current listings. Thats about what I would need to profitably invest here in AZ.