I can see buying at 70% off market, in this market... but you are going to have a difficult time turning around and selling for 30% more than what you paid, con

I can see buying at 70% off market, in this market... but you are going to have a difficult time turning around and selling for 30% more than what you paid, considering that 'market,' if trends continue, will be less 6 months from now than it is now. If I had lots of credit and I was willing to risk it all, I would consider such a gambit, though my plan would be to buy, fix up, and hold (perhaps renting to cover costs) until the market started recovering. For bonus points, if I knew anything about wrangling bureaucracy, I'd work on turning business real-estate into dual-use lofts. I'd really, really like to have a dual-use space here in silicon valley, but the nearest place they are plentiful is oakland, and I don't need dual-use space /that/ badly. But then, I don't have lots of credit, and I personally suspect there might still be even more downside in the market than people seem to be predicting. Still, if I was going to do it, I'd do it here in silicon valley or elsewhere in the SF bay area. the fundamentals of this place are strong, and while I think it will get worse before it gets better, I'm certain it will get better.