I politely told him I get incredible rates and terms from non-bank lenders and this wouldn't even be on my radar screen.The only time I look at local banks is when it is a value add smaller type deal that other lenders do not want.

BP is an incredible tool for learning and networking. 

Also, in an inflationary environment (which I think we can bank on long-term), cash is worth far more in the earlier years than in the latter years. 

So are we insane or does this look incredibly exciting?!

I look forward to learning and interacting in this great environment.

Jay you are incredibly helpful, not to mention informative - I'm starting to wonder if I am talking to computer with database covering the entire country, not a single person  ; )I tried to vote on your post, but it is saying "0 vote".  

And if the people they sold to won't just willingly deed it back they can't even control the asset.. since they no longer own it.Sub too while nice for a buyer is incredibly Risky for a seller ... unless very detailed safeguards are put into place.. which of course are rarely done... most sellers just figure this out when they get a late notice and freak out. !!! 

Just a relaxed environment to meet other Kansas City real estate investors, landlords, and renovators.

I think banks, almost all banks, have federal guidelines they must follow to participate in government sponsored programs e.g. fannie mae, freddy mac, FDIC Insurance, as well as a plethora of other government sponsored banking platforms.I'm not a banker, so maybe they can apply for a Mulligan, but it just seems odd in todays highly regulated environment that a bank would be able to walk away from a collectable mortgage, even if the cost of foreclosing was greater than the cost of walking away.

,Mike,I think we're in a similar environment here in Denver, it's made things tough.