Common sense is never sexy but it never fails in the long run.

The one sister and dad probably make low teens.

So Memphis has always been known as a boring, non-sexy investment city where an investor is not going to strike it rich quickly, but can absolutely build an effective, long-term portfolio.  

Hi All -  update from the field.Mortgage interest rates for UAH loans are just now starting to edge down, but they are still mid-to-high teens.

I'm assuming this is apartment syndication type money in the mid-teens on a 3-7-year horizon.  

The interest rate on my first mortgage was in the high teens, we survived and the property today is long paid off and worth more than double its original purchase price.The U.S.A. and Canada have experience cheap money over the past decade which has contributed to an increase in real estate prices:  So what if you pay an extra 40K to get that duplex, the interest rate is only 2.5% (up here anyway) ... it's only another $180/month.There are a lot of folks who have been buying property with the implied premise that the Prime rate would remain below 4% when the historical norm has been somewhat higher.  

(EDIT: if your equity position isn't quite that sexy, you can of course cash out 2-3 to pay #4 off entirely.

But he says it's "sexy"...

"pre-foreclosure" is a sexy term - but it really doesn't mean anything without qualifying an individual situation.If you want to have a better chance of success getting a property which is inevitably going to be foreclosed upon, it's a safe bet to start by looking at market comps and then adjust your number based on the condition of the property and the situation of the current owner.  

And our teens are actively doing Running Start.