The rate is locked for 5 years, at the five year mark the rate adjusts to whatever the five year treasury rate is (plus whatever % they add).

My banker suggested HELOC loans are often pegged to treasury rate.

The issue isn't with the hard money lenders so much, it's with the market turning into a casino more and more.... and the fact that I was looking to lifestyles to provide me with ALL my deals.

@Jean-Claude GovernaleThe best definition I've heard of CAP rate is a measurement of the risk premium of your investment when compared to 10-year Treasury Bill (considered a "risk-free" investment).

Too bad that Casino didn't get built in Kenosha, Thanks Walker! 

In LAS VEGAS tons but the average rate for out of casino venues is between 5-10k.

If your heart melts every time someone tells you they lost their paycheck at the casino, you may not be cut out to be a hands-on landlord.

Governmental seized properties go to a listing process, under fed or state Treasury rules, don't see any advantage there.A bail bondsman is an insurance agent underwriting for a company, they probably don't have anything to do with properties, like a State Farm agent trying to sell off a total loss property, that's not in their realm of responsibility. :)      

Treasury bills are generally considered a proxy for "risk free" investments and even those are not truly risk free.

Every single time 10 year treasury looks like it will go over 3% it doesn't.