Back in the day...

[Jules Aton]

I started investing in my late 20s during early 90s in up and coming inner city neighborhoods. I lived in and renovated or renovated and rented. Two things I remember that probably don't happen today: 

-First property was a no-doc loan, technically low doc because you still had to provide information but with 30%+ down pretty much anything you wanted was yours.

-Local banks were the best. Bank a few doors down from my residence didn't ever foreclose on a property. I went in one day and manager asked if I would be interested in buying a shell that was in default. It never even hit MLS. I was overwhelmed with projects at the time but paid $35,000 and sold two years later without any improvements for $125,000.

For older investors what are your back in the day stories?