@JonK We relocated to Orange County CA from an area that was highly dependent on the construction industry, and when the market crashed unemployment etc. skyrocketed to around 18%.

Many of the biggest hard money lenders who lent heavily before the crash, are now out of business.

Due to work, life, etc. he ended up renting it out in 2005, 06...when the markets crashed he saw a bunch of people essentially giving away their timeshares at the same location, so he bought them at rock bottom prices.He can sell his "premium" weeks for $4000-5000 each, with annual fees and taxes ranging in the $900-1200 range.

Too many investors got caught with flips or loan collateral that rapidly decreased in value during our RE crash.

As far as flip projects we took a hit in the crash but nothing like back East, Vegas, Phoenix etc. there are some local deals but its a feedin frenzy banks are waiting up to 2 weeks to look at offers.

For a while during the crash I was looking up the histories on new listings and I found so much of this kind of thing I stopped looking at the histories in disgust.

Well, if you dislike BO so much that you won't listen to him, you'll never know what his basic plan is that he has mentioned, oh, maybe 50 times.Something that went under the Radar Joel, was that many of the large corporations, even small ones, saw the economic crash as an oportunity to clean house, they didn't have to fire all that they did, but they saw the opportunity to cut overhead and increase profits while getting out of contracts, so they did.

Adam, you are on a site that favors cash flow over appreciation and rightly so because of the recent crash in prices.

Horse-feathers as my grandfather would say.Skimming over the aspects of finding a note, negotiating a price, getting agreements and assignments signed, calling the borrower and introducing yourself is not an education, it's an enlightenment to the process.Now, hopefully everyone knows why I seem so negative when someone that has no finance knowledge, very little real estate knowledge and a lack of business experience posts to say they want to get into the note business and begin next month after some crash course.If someone is a technician in some field or a business operator, perhaps an airline pilot or a computer engineer, there is no way I could step into their shoes in a month or probably a year and do what they do.

Unfortunately, when the market crashed, we decided to lease it out and relocate to So Cal, where there's a better real estate market.