Financing is harder below 50k and the buyer pool rapidly vanishes.

Months later a lot of borrowers that came to me did have their HELOC"s frozen or modified downwards since the collateral value that backed the loan was rapidly diminishing.

Now, of course, I understand the economics of what was going on for him (he had just spent a pile of $$ to buy in a rapidly gentrifying area) but at the time it sure looked like meanness and greed, lol!

I think I can beat that if I just buy my own complex.I was reading that the goal should be 15% cash on cash unless it's a rapidly appreciating market... then goal could be 10%.

The current administration began during the recession and I would think they would want to go out on an upswing.The FED just announced that there would not be an increase in interest rates at the moment, lenders are feeling more comfortable lending, and, at least in my area, the inventory is turning over rapidly.

Shortly after we submitted an informal offer, the seller decided that they were not going to sell the property after all (the market was rapidly improving).

** A re-newbie is someone who invested heavily from 1998 to 2005, where all his mistakes were covered up due to rapidly escalating market.

I stumbled across a presentation that basically said, direct mail is the best strategy to produce rapid volume in short period of time.

I live in Grand Rapids Michigan.

@Barry CohenI run a property management company in Grand Rapids overseeing approximately 500 units.