BP is the one stop shop for all things real estate!

I found a 3-unit in a pretty good neighborhood centrally located to businesses and shops.

That gave me a pretty big area to start my "car window shopping."

I've been advised that finding good Hard Money lenders is a smart route to go because my ability to pay 20% on a conventional loan is limited, at this time.

If bank is smart they will know that they will lose more money by going through with foreclosure versus shorting it to him, no?

RE absolutely rocks, particularly when it is smartly leveraged.

The risk here is that you may be buying into the height of the market, so you may not be that much better off in terms of preserving your equity unless you get a good deal in a smart location. 3.)

That's a VERY smart first step. :)Liz

I've done some shopping around and am currently working with a lender with terms of 4 pts and 14%- 12 months max.

Way to go--smart and creative response to the situation!