Broad brushes paint pretty abstract pictures. 

When he bought the property, he brushed it off as a '100 year event'.  

then 100 a month in my mind never worked .. and will never work.. long term in these asset class'sgive me 100 a month in historic areas of reasonable appreciation and tenants that actually pay on time every time and don't trash houses.. then yes you controlling a valuable asset that can realistically be put on MLS and turned to cash in 30 to 60 days without being hammered by a local wholesaler or investor who will never over pay and just wants a screaming deal or they wont buy them. so if you buy for 100 a month and the locals who are in tune to the market will only buy if they can get 200 a month and if rents are basically static which they are in most of these markets.. what has to give is your equity if you need to exit.. or wish to exit..

Thanks again everyone for the brush up in information@fahim I'm actually looking in Manhattan (still not sure if it's the best idea) but it's super close to work.

It is easy to brush off when you consider the source. 

The trade off for that is twofold; a static interest rate for the next thirty years, vs a slightly lower, but variable interest rate on a HELOC that could be 15% in five years, which would likely bankrupt most investors. 

I'm looking for volume data, however most of what I'm finding is either market growth statics or market size in $$.Any tips on where to look or favorite websites for this type of info?

Thanks for this episode and  for the statics you gave on multi family vs single family as well.

In Portlandia were are see price concession and or free rent etc on some of the new build real high end 2500 dollar elevator buildings on the east side.. this is happening now.form what a friend of mine who owns a management company with 6k plus doors was telling me at lunch.a few buildings are stressed right now.take this scenario.. you buy the land 3 to 5 years ago it takes at LEAST 2 years to get through permitting then another year to build.. cost of building in this time has gone up 10% or more.. land is static .. and your proforma show this ever increasing rent.. you now come on market and your 4 story elevator building now cost you 400 a foot to build.so your in a new apartment 400k.. you need 2,500 a month just to hit your investor grade 4 to 5 cap.. and now rents start to pull back as they are or lease up is very slow at those values.. so you have full amount of debt on the building and of course everyone these days has max debt.. so debt service and DCR ratios start to go out of wac  you have annual reporting and loan covenants .. you no longer meet your covenants and you have a cash call to your lender  along with negative cash flow.. this is what I mean by some are stressed..

You need to brush up on Fair Housing Laws.