We were discussing how downtown South Bend has really declined in the last few years, but near Notre Dame and Granger are good areas (I would defer to Jeremy for that though)  I have family that lives in Elkhart, which is good for the numbers but they are very dependent on the RV industry. 

I've also noticed the dame pattern with my rehabs also.

However, like you, some of my sweetest, most profitable deals didn't have cashflow for a couple of years but 10X (or even more) on the money more than makes up for the lack of cashflow.If I am going to launch a fund that can take advantage of land opportunities, I will have a fund where 80% of it is to acquire existing hotels and apartments so there's cashflow on day 1 and 20% will be more "opportunistic acquisitions" - which will acquire land deals with huge upside to sell in a few years.I made an offer on a piece of land near Notre Dame University that could have been a sweet deal for me to build a hotel on but we didn't agree on the price.

But I agree with you and @Derek Dame, that in real estate there's always going to be good deals and I just need to find the way to recognize them.

Notre Dame has turned a corner in the past 3 or 4 years and has really embraced the community.

I'm actually a current freshman at the University of Notre Dame, pursuing a degree in Architecture and studying Finance and Real Estate on the side.

My dad and myself go to at least one Notre Dame football game there to relive old memories and we are seriously considering buying something with in a couple of blocks of campus because there are some great deals on foreclosures.

We use guerrilla marketing to find unlisted parking lot, garages, and investors (our biggest compliment to date is a Cease and Desist letter from the University of Notre Dame for having cars flyered at a football game (that one is framed!).

@Derek Dame,There is no simple answer to the Roth conversion question.

Too bad there isn't a sports team like Notre Dame there.