An uneducated eye may think that's a silly statement because there appear to be a ton of listings in Detroit.But many of them aren't worth buying.

At the time my only issue was their loans appear to be backed by wall st.. so the closing docs were enough to kill not one but two trees and took way more time to sign the  whole package then I like to spend signing closing docs :)  But thier fee's and rates are hard to beat. 

Sure the site is a little out-dated in appearance but it is so user-friendly and although it isn't my highest producing lead source, I do tend to get very strong leads from there and no spam so far. 

A lot of private lenders will use their white label program to appear as a direct lender, however it is just another loan broker.

@Nathan Gesner  Don't believe everything you read, especially on the web. 

Had you posted primarily about note buying, I would not have replied at all because my only exposure to that is the PPR note class and observations from the class the notes appear to sell for market value or above.  

The realtors seem to talking more about per door price in this area...they appear to be ignoring the cap rates and cashflow and really anything other than per door price.  

Apples to apples, they appear opportunistic and taking advantage of someone who is green. 

The terms you are looking to offer definitely appear reasonable and you should be able to get these offered out under a white label or table funding (maybe not all those terms at once, but likely covered through different options/programs, even with one lender)

Funds can't ignore the math is where it appears we are now.