Take a trip in those landlord shoes even once...then challenge the LL view.

My wife is an ebay maniac, I swear to god there have been days where I ask "Have you seen my shoes" and she told me she sold them on ebay.

"Just do it" may be good advice if you're buying tennis shoes, but it's a very poor way to start a real estate business.

(Yes, I realize you didn't ask us to analyze the property per se, but you asked for a reasonable offer price, which is absolutely tied to what will make the property a good deal, which of course requires analysis.)Bottom line, if you are absolutely convinced that it is a good deal at 1.4M, then take it at 1.4M.Originally posted by "littleivy":I have lived here a long time and have seen my home increase in value from 275K to 1M in the 13 years since we bought it....and our first home, which we kept as a rental, has increased from the 195K that we bought it to being worth about 850K+.I also won the lottery the last time I played, so I figure I'll be a shoe-in for the next time I buy a ticket.Have you seen this graph?

And if that is the true market rent why hasn't it rented.I'd slow down in your shoes less you find yourself in the ranks of the overextended.

I agree, but ultimately the best investors(not necessarily the good ones)[/i] are the best psychologists, they study human nature and social interactions and after they are done looking at your shoes......they'll look in your eyes and either feel confidence or trepidation......they can basically smell fear and treachery.....So, if you are going to present a deal to and investor...whether is a private, institutional, etc.......make sure you ask yourself the ultimate question...."

In your shoes I'd take a hard look at knocking down the leverage preferably through shedding more than a couple of them.Oh, and as for your friend, go to a BK attorney .I can tell you what the BK attorney will say, it's a deriviative of the old saying; "when your only tool is a hammer, everything looks like a nail".Toss your buddy overboard, save yourself.all cash

There were over 3,000 pairs of shoes, 3,000 purses, endless piles of stuffed animals, lots of craft items and on and on.

IIRC a "white shoe attorney" acquaintance of mine told me their usual (on the legal part) fee for handling a trustee's sale is closer to $5K, and the borrower is generally 5+ month behind before they even receive the paperwork!

I wear slacks and nice shiny shoes...