Have a plan ready if this person suddenly stops making the payments.

So we finally hop on the phone and tells me that we’re at 121,000 all of a sudden. 

For now, we are arranging a few fund-of-funds and Co-GP opportunities.Houston Apartment Owner Loses 3,200 Units to Foreclosure as Multifamily Feels the HeatBuilding values are falling, interest rates are rising and rent growth is slowinghttps://www.wsj.com/articles/h...An apartment-building investor lost four Houston complexes to foreclosure last week, the latest sign that surging interest rates are beginning to upend the multitrillion-dollar rental-housing market.Applesway Investment Group borrowed nearly $230 million to buy the buildings with more than 3,200 units as part of a Texas buying spree during the pandemic.

Do dumb things when trying to compete - what he meant by this was he has seen banks that are in an area in the Midwest and have been lending there for 50 years all of a sudden start lending money in Miami.

Only in a bull market could an online “currency” dubbed bitcoin surge 100-fold in one year, as it did in 2013.

Going back on the UK:http://www.theguardian.com/business/2014/jan/04/housing-bubble-fears-price-surge-london-manchesterThe increased velocity of appreciation is really worrying me now. 8% Countrywide and 14% in London?

I was newer back then (I still consider myself new) so I was WAITING for the other one to go on sale instead of proactively contacting the owner and suddenly the other side went to auction and I wasn't able to scrounge up enough cash to buy it.The family that bought it is owner occupying it.

Another capacitor issue (we had an electrical surge a few days earlier).

You will suddenly have 146 new units of competition.

If prices were to suddenly and painfully fall right to the long term trend, roughly 2000 prices adjusted for inflation, and lending was to return to pre-bubble guidelines and availability, I think we would resume the pre-bubble, inflation driven appreciation.