Real estate loans to owner occupied properties where the business of the owner is closed down - or SHOULD be, and the owner needs some time to sell the property.  

There are still a ton of jobs and people continuing to move into that market. 

While people will share a bathroom in say a 2/1 it is likely a harder sell in a 5/2 and the price you command is less. 

Best,Sebastian While i typically say when lending ROI should not be used and IRR is, ROI if its 12 month loans can work as well since most people do not reinvest immediately the monthly interest payments and IRR is based on the reinvestment rate.

What a lot of people end up doing, and sadly I'm prone to this as well, is they spend way more time learning then they need to in order to get their first deal done.

A lot of people say they can't find a good investment in LA, but you are proof that deals can be found.

Similar to what Patrick stated - most have ITINs and have seen a lot of loans like that and those are sold many times on secondary market. if not I know people who still originate I would say they are tougher to sell on secondary market but there are still buyersRe: jay comment - price of notes has doubled over past five years on many loans - especially defaulted or loans with some hair too them. 

If there's a deal with way too many people involved on both sides, they're gonna screw it up for everybody. 

Pointing out the BS that people try to peddle. 

Doing this will open your eyes to how people waste space in real estate today.