not literally. i dont know if there is a different way of wording it....basically, he has 80k left on his mortgage. the market crashed and now the comps are running about 65k (without looking at repair costs)he really just wants to get rid of it. but is this something i can work with?

Before the crash, Joliet annexed a LOT of land in Grundy County but the crash put a cork in development before most of it came to fruition.

The fear of a crash in either sector also prevents most from doing anything.I would also say on the other end of the spectrum, overconfidence could also be as big of an enemy as fear.

Real Estate Trainers, I have no affiliation other than I did their broker crash years ago and knew the answer to virtually every question on the test.

When I got back into the market after my first crash this is exactly what I did.

This was supposed to be. her investment property, however market crashed and she got stuck with it.

@Timothy Hollems, I was working up quite a beautiful post when my browser crashed.

We build 12k housing units a year here up until the crash but its coming back...  4 to 5 thousand are multi family the rest SFRs I would venture to guess there is a fraction of that kind of activity in new construction for multi in Memphis but I could be wrong....  

It helped, that when I first started, I was able to stay at 60 to 65% LTV (started buying right when I saw the market crashing).

The only way to 100% avoid being in a fiery airplane crash is to not fly.