Property is located in Jersey City which is close to New York City and rents all around have declined due to high vacancies. 

Property is located in Jersey City which is close to New York City and rents all around have declined due to high vacancies.

@blaine Moore - I'm a big fan of it, bought it on a Black Friday sale and I've noticed a large improvement in my productivity in the last 2 months.

Wrote the owner an offer three months ago which they initially declined.

The buyer declined an inspection and signed the purchase agreement.

With institutions entering the industry a few years back, more products have become available to us as lenders, resulting in better products to the borrowers.

As for the investment cycle term, thanks to their non value-add nature, you have to hold for the long term in order to recoup transactional costs and the slight decline in price once the 'new car smell' from the TK provider's renovation wears off.

This lender has stopped the particular loan product this buyer was using and I was seeing if I can find someone that can still do this.  

@David MarasowYou don’t need to tell me, the Yanks are coming in by the Tesla full ;) With the steep decline in property value up there, now might be the rare time to come across something mildly profitable.

It's taken a lot of cash so I've sold 2 along the way to keep paying for the rehabs.My experience has been that the quality of the product will determine the qualify of tenant you attract.