Some people may think that spending a little extra money on amenities is wasteful but it's actually a small investment that has a massive impact.  

If his payment is say $8300 a month and there was some magical lender who would allow more than 100% financing on Jumbo the MI companies do not go over a million dollars even if the DTI was 41, FICO 850 and he's Warren Buffet. 

Also, logically inflation should cause housing prices to increase especially given the massive lack of supply in our markets.I think most investors will come to the same conclusion and while the single family and condo markets may see a temporary pull back from the crazy movement in the credit markets, I think multifamily will stay strong.

So basic economics has created a massive shortage and that will take time to fix itself.

Massive props to you!! 

Investment Info:

Single-family residence buy & hold investment.

Contributors:
Reese Newell

Luxury House 1 mile from Ft Lauderdale Beach! A private resort stay with themed game room that h...

Some demographics want bail bonds, health clinics, cheap buffets, buy here pay here car places, and etc.. others want more upscale things.Look at the area near the apartments through the eyes of those who will live there.Know your renters desires--a fish knows his own pond the best.You need to know what renters for that building want.Good Luck! 

We resealed and painted the massive pool out back, built a new deck, did some landscaping, upgraded the kitchen counter tops and appliances, painted the cabinets etc.

Really awful advice that may result in you being able to close on the property (hint: what they want) more easily but comes with a huge cost post-closing (massive interest payments/fees/risk).

This is something I'm kicking myself for, because we've missed out on some massive gains.