Greg it will depend on the portfolio of the bank and how many performing versus non - performing assets on the books.The bank might not want to refi that type of product with too much of that type of asset class non-performing on the books already.They might have too much defaulted commercial all together.For value add plays typically occupancy is an issue.The lenders will want certain occupancy levels obtained for at least 3 months depending on loan type and typically stabilized for 6 months to a year or longer.If you buy an apartment building at say 50% occupancy using a hard money lender or private money and the going vacancy rate is an average of 10% then the lender wants 90% occupancy averaged out over time.When you refi you will only be able to go up to a certain percentage to cash out or can just convert with no cash out to the lower interest rate.Regular banks do not lend usually on sub par occupancy levels for the area.They see it as too risky and the say 60% occupancy can quickly go to 30 or 40% and they have a foreclosure or short sale on their hands taking a loss,plus inspection reports,attorney fees,appraisal and environmental review etc.

Of course, as time goes on and you continue doing a good job of feeding that mouth, your score will return to its former level if not go even higher.

I don't know if that's due to the market leveling out or other investors sucking all the air out of the room, but it actually made me contemplate listing the properties for a flip, but I really want to build a portfolio, not become a rehabber, so I have to fight that urge.I sent you my email via private message here on BP.

There has to be another approach, other than landlording, that I could possibly capitalize on.I am willing to pay/jv/parnter...whatever I can do to get to an income producing level that will make this transition viable.I just feel like I'm missing something..............

How much they sell for in different levels of condition.This is a process you will be repeating every time you buy a home in any neighborhood.

I want to take my business to the next level.

This is just a hunch, but i think they had a big board meeting when they were nearing there target reserve levels to initiate release and it went: "well boys n girls, we will have the reserves built next week to start dumping these reo's, but know what, our lobbiests rocked and got us all the money we could ever need, and I'm loving these reserve numbers, screw it, lets invest these reserves and make MORE, and just trickle those reo's out until values make it worth our while to dump em" "but sir, what if these decaying assets start costing us, in Michigan we have to tear them down?"

Just wondering if anyone has gone through this route and on what level.

Michael,I think there are different levels, but realquest.com I believe has a trial period they offer then its 149 a month.

There are many ways to make money in real estate, but each of them requires some level of education, experience and skill.