Quote from @Greg Loberg: I have been a lender on many notes through Safeguard Capital Partners over the last 5+ years. 

They just bought it last year, so not much equity, still $760K on the mortgage. 

I did a punch last week with the builder.  

Last week I finished foreclosing on four properties. 

So, over $40 Million of fourplexes were sold in the last 14 months.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

I hope you are doing well and sounds like you are an experience investor in this market - would love to maybe grab coffee sometime and hear about the experiences you have gain over that last 15 years!

I can’t help but imagine it would be that guy’s last day if the appraisal came in $1 under the sales price. 

I've done work in Florida last year and have several connections out there.