I think we are starting to finally see the velocity of this money over the past year or two now. 

I would not be too concerned about short term debt as long as your market has a viable exit.. same thing for rates.short term debt is just a function of the cost of doing business when your building or flipping.. its more about velocity and doing deals than shopping around to save 1% on a loan your going to be married to for 20 years. 

Before moving on, I'd like to define two things: Money supply and velocity of money.

You make a fortune on the velocity of other flippers while THEY take all the risk.

Don,I think its very market and niche specific and one does kind of need to explore deals they may not have done in the past if we are going to maintain velocity.

I am not in California but just came back from a conference and a few of my friends work those areas.I do believe the broker/agent is giving sound advice.From what I have been told in California it varies by area but there are many more short sales than REO.The foreclosure process there takes a very,very long time and can be expensive for the banks.Some areas in California are receiving multiple offers over asking.The reason is California generally isn't a cash flow market so people wrong or right buy on speculation.It's one of those markets that cycles up hard and crashes down hard so timing is more critical than other markets with more subtle swings in value.With the short sales you will have to watch out for time lines for approval of the sales price.If it has been a while and the prices have fallen even more you will have appraisal issues.This is why you need to know absorption rates for the specific area you are buying in and buy what percent the market is increasing,decreasing each month or is it staying flat.Velocity is also a factor.If for instance December values declined 3.0,then January 3.2,then February 3.6 percent then the velocity downwards is increasing.Also values might decrease but interest rates rise causing you to buy less of a house.So really get educated and drill down the numbers to make an informed decision.Also make sure to compare with market declines apples to apples.So if you want a 3/2 ranch on a 1/2 acre make sure you are looking at that data and not a mixture of sales with wide adjustments to bring in line.no legal adviceForeclosure auctions are generally cash only at the courthouse.Property that has already been foreclosed on that the bank is sticking in a auction is a different animal.

But if the land investor is worth their salt, there should be enough meat on the bone for you to justify that cost, as we try to sell at 70-80% of market value to keep the velocity of money up.  

You can tell this adds to the velocity of your investing.

While I don't have the velocity this guy has, it doesn't mean I, or anyone else for that matter, can't find people like him and partner up on a deal or two or keep working towards those bigger and better deals on their own."

SpringEQ  721 MORTGAGE FICO (not consumer one) 70% ltv; Symmetry same; Fremont case by case they are picky by COUNTY location; Velocity pricy; PENFED no LLC and don't change it back they will rip the rug from under you; Merchants Bank Indiana only in Midwest; Farmers and Merchants if you have big deposits to give them; many others depends on the location of subject.