There are no great deals on the West coast NOT

[Jay Hinrichs]

I don't do this very often but I took a lunch today with a BP member who I happen to like and I think I have given him some good advice over the last few years..

it was very much the same we see on BP .. IE there are no deals on the west coast etc. I told him to just dig harder and be patient.. well he bought a duplex last year that is doing very well.

But today he informs me he bought a five unit that once rehabbed will actually hit the 2% rule.. now I had to congradulate him. for someone who is a engineer working full time to pull that off is pretty great. But it can be done.. so he was patient worked the market and now has this 5 unit the other duplex and another duplex he said he JV with a contractor.. Now other than my encouragement to try to stay close to home he did it all on his own.. Very proud and happy for this Local Portland investor.

[David Faulkner]

Yeah, I like to hold 'em and you like to turn 'em and burn 'em ... I don't like paying taxes, and you don't like being a landlord ... either way he would win, and that's kinda the point, right?

I agree with him that you should do a podcast ... will never happen, though, I'm affraid ... besides the skype problem, you'd need to be a professional BMX biker or commercial fisherman or something more interesting that has been doing REI on the side for a year or two and talk about puppy dogs and ice cream and how wonderful and low risk it is to invest out of state in a high cash flow market rather than a lowly, evil, speculative, local west coast developer and lender with decades of experience. Oops, did I just say that out loud? My filter must be broken today :)