People are nuts...protect yourself first!

I'm a bit uninspired by the idea of IRAs and index fund investing because I can't leverage those and it's just such a slow and tedious path that won't bear fruit for so many decades (or at least that's how it feels). 

It is nuts...

happened in Detroit for various reasons. the homes folks are buying for 20 to 40k now in Detroit and rehabbing I was loaning 70 to 80k on them in 04. and that was 60% LTV then..So in my mind those that made it through were Extremely well capitalized or like many of my clients they own their rentals free and clear.. and they take the abuse of others telling them they are nuts to not leverage up..  

Sometimes you can buy something at a 6 cap fully stable with under market rents and increase rents and decrease costs to get an 8 or 8.5 cap etc.The syndicator you are planning on investing with needs to plan out exits and return of capital to the investors.I think a lot of stuff people are nuts paying those prices for things.

I talked to the town about this and they said this property was built before the zoning changes to single family, thus it was grandfathered.The asking price is $415k, which I think is nuts for a vacant property.

@Justin FussellGood questions.1) Tax delinquent should have a higher response rate than high equity absentee because absentee is the low hanging fruit that all investors target first and it's the most saturated. 2) Once every 3-4 weeks is optimal.

There are a few fruit trees as well on the property.

The cost I gave included everything, the proverbial “soup to nuts”.

Your prospecting efforts will bear more fruit too.