From the pool of inquiries, there would have been much more applicants except I let people know that there were already too many applicants AND that they MUST meet my criteria of over 700 Credit Score, 45 times monthly rent AND have a healthy savings account to weather the lockdown.I chose the best applicant who made $200k per year and had $200k in savings as well as over 700 FICO.Apts like mine in buildings like mine are incredibly desireable now.Basically, there's a huge problem with skyrises and Pandemics.People are afraid that if they get into an elevator that they could be trapped in a small space with someone that has the virus, which will then transmit it to them.Also, the management for the skyrise buildings are not permitting IN PERSON showings AND many are not allowing moving in or out of the building because of the risk of increasing the transmission to vulnerable tenants within their buildings.That narrows down the amount of available apts.Buildings like mine, non-Elevator walk up buildings which are low density and separate Garden Apts, are now the most desireable buildings to own in a Pandemic in NYC, as I am seeing anedotally.However, this is only true if you are in the right kind of City, where most of the buildings will be very large skyrise elevator buildings where there are huge amount of renters.Adding to the attractiveness of low density buildings is the fact that NYC is the EPICENTER of the COVID-19 pandemic.Yes, this is one single datapoint.

Showing up with debt service in desirable areas where people are competing with cash is like taking a knife to a gunfight.

You know what streets have high crime, which have good school, and which are in desirable areas. 

In CA, most land especially in desirable cities is mostly built out and I have yet to see land growing off the coast.

They (those banks) are notorious for lending an Alt A platform (UW)You need to have access to the banks not some yahoo that is passing around IMB, Homecomings type product that says he's direct to the mandate "of a bank" of all placesI got an IndyMac tape last week and was surprised I didn't see it direct so I asked my guy there and he was miffed as wellTurns out the tape was so old NOBODY remembered itMost of it sold last fall,I really have no idea why people shovel product to the masses, short their desire to get to a "real" buyerMy question though is what type of relationship will you have created when the actual entity wanting to purchase the package learns it is not real or won't trade at the levels offered (30's and 40's)Peace :beer:

There are few transfers in the paper weekly even in the most desirable neighborhoods because prices are so very high still compared with wages.

It just keeps getting better and better.Now we all know we don't physically get anything for the highest influence levels or being in the top 10, but it certainly dipslays to others that the ability to obtain such a feat is only accomplished with dedication, persistance, and the want and desire to succeed.

In general, JV partners each bring something to the table such as... (1) Broker Relationships for the deal flow (2) Investor Relationships for the money flow(3) Knowledge or connections in a desirable market that your JV Partner does not currently have (4) Your own capital(5) Lender experience such as Fannie Mae, Freddie Mac, etc.(6) Strong deal analysis skillsHappy Networking!!

That's just a perspective on leveraging bank money, but I respect the desire to have no debt, I hope you can manage this.

It's more of the areas desirability from the stand point of a potential renter or owner occupant.