The problem is a function of the temperate environment and the underlying geologic parent material that produces expansive clayey soils.

While these large purchasers might make it more difficult to find deals, overall, they bring the values up, helping under water homeowners get out of trouble and making for a more healthy market.

@James Vermillion right now I am looking at short term flips and rehabs but have already set an end goal if all goes well to include at least 25-30% long term rental income producing properties.

Sometimes the guidelines will specify what this can not be credited toward, like prepaid items.Loans on primary residence are the most versatile in combining gifts, and concessions to produce the least amount of required contribution from the borrower.

Speaking from the investor standpoint, the longer term loan at lower interest rates is far superior than the shorter term loan so long as the added cash flow and capital is invested in other cash producing assets.

Look for someone who doesn't cut corners, who is fiscally healthy, who has built a good number of homes, and whom you can get along with over the next 6-9 months.

As to whether the Illiana corridor hwy will produce growth to the area by itself.

A 3 million property with a cap rate of 10 would produce an NOI of 300k.

My immediate goal is to pick up least two properties a year for the next 3 years that produce a positive cashflow of at least $250 month.

A Happy Healthy and Prosperous New Year to all of us.