But, that still doesn't affect the fair market rent....so on the tenant side...no matter where they go...they have to pay rent...so there is no valid argument from them unless they incur damages from an unknown auction date (i.e. out of the blue a bank rep comes up and serves an eviction notice and they are forced out)Whether I go to vendor A or vendor B and buy the same product....the market sets the value...not how much that vendor paid for the product.

Get one please, preferably a smart commercial attorney)I hope this concept of Sugar Daddy helps you.In this climate of non-lending to real estate investors, one Sugar Daddy can free up an REI to offer low-ball offers ALL DAY.Last I heard, Standard Fannie/Freddie Guidelines limit the number of properties finance to 10.All the best, Brian

just stop making payments; it will take them 3-5 months to initiate foreclosure ( it starts with " notice of default"); but in the meanwhile congress will passs the BAILOUT; then uncle sam will buy your " toxic" note for something like 30 cents on a dollar; after that - most likely - uncle sam will " modify" your loan ( how'bout zero interest plus knocking off 65% of principal - would'n you make that kind of payment ?)

Add the $400 bil for fannie and freddie, $1800 per person.

Although commission is negotiable, when I notice a client who starts shopping for a 'better deal' or discount, it's time to pull the plug.

Oliver,To echo Jon's points, the short sale will prevent you from obtaining a fannie mae loan for a minimum of two years while a foreclosure will result in a five year wait before you are eligible for a FM loan.However, I doubt that the failure of WaMu will significantly impact your ability to sell short.

Here in Jersey I've noticed prices dropping a little and vacancies increasing.

After re-reading Rosie's post, I noticed she dod say buying with no equity.

I hope to have notice of it on BP by Friday.I'm tweaking the technique a bit: advertising it for about 3 weeks, rather than 5 days, advertising it nationwide, rather than just the local area (we do get snow birds), and offering separate inspection periods for people with EI/MCS, because of their needs.

What occurred in our situation is the building was fully rented and in the purchase agreement there was a clause that one of the tenants would be given a 30 day notice that they would have to move once we closed.