You also need to consider that Fannie and Freddie have decided in their "infinite wisdom" that a condo development must be 71% sold to qualify for a loan.

To further compound the point, back in the 0% down days it was very easy to make infinite ROI even though your cash flow might have been barely above break even. :)

They were certainly a contributor, but I would not say that they were a "major contributor"I would have to say that the "major" contributors were the greedy banks giving loans to anyone with or without a heart beat (also to their qualifying pets, ha ha) as well as wall street and their infinite greed, finding very lucrative ways to package up the loans and sell them off for billions of dollars.Your thoughts?

In the land of infinite foreclosures here, "option" seems to be an ugly word.

In fact, many of the loan mod crooks are the very same mortgage broker crooks who sold ridiculous loans to people and now that they are out of the loan biz, they got into another biz to take maoney from people.Unfortunatley, the infinite wisdom of our state officials made the bill so broad, that it encoumpasses not only loan mod people, but EVERYONE, including us investors.It is my hope that the wording is edited or ammended so that it is more specific, but until that time, and according to the bill, anybody performing a short sale in CA without having a RE sales license, DRE # or being an attorney, you could be committing a crime, and not a small one, but a felony that carries with it 10 years jail time!

That said, of course I was in contact with them and they fought tooth and nail to get it recorded from BofA, regardless of their efforts, and regardless of the paperwork proof that the money had been sent to BofA and regardless of the fully executed short sale approval from BofA, the title prelim still showed the loan outstanding and the new buyer's lender would never fund until that was resolved.Here is just another prime example of BofA and their infinite stupidity, greed, and disregard for others:http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowner-Forecloses-On-Bank-Of-AmericaThe whole point is, why should anyone continue to give business to this bank???!!!

So, our rent to value ratio isnt great, but with the financing, we had no money out of pocket and basically have an infinite cash on cash return.   

You are a real estate super star like Ben Leybovich or Brandon Turner and you are getting great (or infinite) cash on cash returns because you can.or2.

From that, you'll end up with all kinds of specific questions that will lead you to search the site for specific things and subscribe to specific forums and set up specific keyword alerts and then the infinite collective wisdom of BP becomes more manageable.

California, in their infinite wisdom, has decided to impose a 7% franchise tax board tax on rental income going to out of state investors that use a property management company.