BP. I was not in the game around 2009/2010 and a few years after when the market was in turmoil (unfortunately missed the opportunity to buy dirt cheap at low rates). I am in South Florida but as a whole did rents stay stable, rise, or fall? Everybody that I had spoken to in the past has said that rents did not decline. I spoke to a lender yesterday in the area and he said that he came across properties all over that rents dropped 40%(not all but scattered around). If so, does anybody anticipate a scenario where rates go up and rents drop forcing the debt service to not be sustainable for an investor who does not have adequate reserves? That being said, are you sitting on cash waiting for this and for 10 year balloons to adjust up? Feedback much appreciated.
