Here's the updated cash out pricing hits from one of our partner lenders, who have taken the strategic decision to be super strong in the purchase mortgage segment at the expense of the cash out refi segment (I can respect that, it's fairly transparent to me as a mortgage broker, and I just know not to use them for cash out refis that they clearly do not want anyways).

As you read this, keep in mind that this happened in one of the market segments that people would have said is the most recession-proof.There was an investor in Texas that owned a 30 unit complex.

We are the one segment of society and the economy that had its **** together. 

This is one segment of the market a lot of my investors target, because they'll usually get a better deal.

We're in the rental segment, and have been growing quite a bit lately.

In SoCal I segment costs for rehabs and constructions to quickly ballpark and evaluate if the deal is viable.

AK isn't as competitive market as other parts of the country, but if there's another investor in your area, chances are they have already mailed to the absentee owners.Consider combining absentee owners with other motivated segments such as Owners with Low Financial Stability Scores (FSS) or Seniors with Long-Time Ownership.

If you have the cash now you do not want to start small in a cycle for that asset that has already peaked and then spend a few years to go bigger and by the time you get there that segment has recovered and interest rates are much higher.

So in my mind, there is the level, if you will, in the segment of this box that is real property that I don't think we mess with and frankly, we are fine with it.

I talk about my first steps on the BP Podcast Show 25 - My segment comes on around 48 minutes in.