The biggest danger sign out there is banks offering "non prime" loans. This is just a repeat of the sub prime mortgage debacle that crashed the real estate market in 2007-2008. Because the economy is booming, and many people are fat and happy, banks are taking risks again. I see ads on IG, Facebook, etc offering 100% financing. What? I have a relative that is 21 years old, makes $33,000 per year, and he was just approved for a $200,000 mortgage with ZERO down. This after he just bought a brand new $30000 car with nothing down. I make six figures (not including rental income), and I could not get approved for zero down if I tried. He is buying a duplex, so maybe the mortgage company believes he will generate income from one unit. Still, that is crazy to me. I'm sure they will sell the note as quick as possible, so what do they care? Dangerous.
