Problem is once you set a president, it will be this way..There are structural improvements that fall in your responsibility.

I spoke with the president of the association yesterday and here are the numbers I figured out:7 Units in the building, 3 are absentee landlords including mine and 4 are owner occupied. 2 Units are delinquent, the one I am purchasing and another b/c the owner passed away recently and the wife wants nothing to do with it.

An investor getting owner finance from a bank owned property or a regular seller might be happy with a 10 cap.So the deal you create and value is relative to what's at stake for the parties involved.If I have 1 million and I can owner finance for a 10 CAP with 100,000 down and then leverage into 9 other deals I might find that more attractive than a 14 cap all in on one deal.I think we are years and years away from a recovery.I think some will wait on the election in 2012 and who becomes president to see where the next 4 years of policy will be heading.Big national banks can take the write downs and sell the properties.I have had better luck with national than with the local banks.Just my .02

But not true if you are doing painting or flooring in most areas.Originally posted by josh larsen:...Oh yeah, and the law isn't going anywhere.. definitely here to stay.Not sure about this, but since it did come into being under President Bush (a Republican), I would guess that this could turn out to be true as well.

If you are up for it, I would be happy to speak with you, find out more information, and hopefully offer you a quick solution.I am closing on a condo next month in this building, and the president of the association actually referred to me this seller.

April 29 the President gave the order to go in unilaterally without the knowledge of Pakistan officials.The mission was lead by Seal Team 6 part of the Joint Special Ops Task Force made up of special operators of the Air Force, Army and Navy/Marines as well as CIA operators.Two utility helecopters were used and one had mechanical problems (par for the course nothing goes as planned) and performed an emergency landing.

I wouldn't ruin my credit for 250 bucks a month.I highly doubt it would take 10 years to reach a payoff you could handle.A residential recovery and workout of toxic loans is at max about 3 years away on a national level with some areas performing and recovering much faster.Why not go to the bank and say rents have gone down and I am struggling.Ask for them to renew the next time at 3 or 4% interest.That will make the gap smaller and go up in rent just a little but not much.Yes insolvency will wipe out any 1099 phantom gain as long as your liabilities exceed your assets.Most local banks all have you sign a personal guarantee.They consider it YOUR WORD as a vice president has told me that you will honor your contract (one of my clients short selling an apartment).The bank said at that time they DID NOT want to short sale and favored instead writing the interest rate down and extending the loan another year at a frozen rate and see what happens.Banks do not want to DUMP everything like people believe.They only cut out properties they see as having no chance of a recovery in the future or a liability if the took back (war zone,environmental issues).In that case they will usually sell the note if it has environmental issues or they don't want to foreclose.I would try the options I have above instead of ruining credit.

Then, a bill has to be drafted, votes have to happen, there's 30 to 40 revisions of it, lots of partisan politics, the talking heads on FOX and MSNBC have their take, and then the bill ends up on the President's desk.

Where in Florida are you Rene?

My grandpa owned Meyer's diner on Mich ave in the 60's and was president of the ypsi lion's club.