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.

Now they actually didn't make most of their money until the market picked back up in the early 90's, but they positioned themselves in the late 80's and when the cycle pulled out they rose to the top.Down cycles destroy most investors, but the ones that adapt and learn to take advantage of the cycle become multi-millionaires.

There have been a ton of investors in this area building preconstruction duplexes because appraisals rose to over $330,000 and people's LTV's were really low.

"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.

Hi Folks,Mortgage rates have been relatively stable since the beginning of the year with the 30-year fluctuating in a narrow range that saw it go as high as percent for the first twopercent in early February and as low as 6.14 and 6.34 weeks in March.Rates on 15-year, fixed-rate mortgages, a well-liked option for refinancing, rose to 5.92 percent last week, up from 5.87 percent the previous week.CheersShirly

Rates on 30-year mortgages rose for a third straight week, striking the highest level in eight months and the30-year, fixed-rate mortgages averaged 6.42 percent and the rates on 15-year, fixed-rate mortgages, a well-liked choice for refinancing, rose to 6.12 percent this week, up from 6.06 percent last week.Rates on Five-year, adjustable-rate mortgages averaged 6.19 percent, up from 6.02 percent and One-year, adjustable mortgages were the only category to show a decline, dipping to 5.57 percent from 5.64 percent last week.CheersSamantha

(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...."