I know from experience it takes time to raise capital, execute etc. and there are a lot of players right now I don't think they will slow down buying they will just lower their criterian instead of 10% net they will go down to 5% net etc.

The key is to find a smaller market that none of the big players know about...but that takes a lot of research and investigation.

Other cities didn't have the spikes that we had; and, their falls weren't quite as harsh.I've been asking a few of the top players in regional and national positions what their prediction was on this "down cycle."

Everyone wins, except the IRS, but they get thier money with future cheaper dollars.

Give him the credit report as "his win".

That is a win-able argument with the LA county assessor.

If you are new in RE, less than 10 years in the business, don't have a pot to spit in, I'd say you have a better chance at winning the lotery than getting a million dollar bank loan, regardless of what the property is or what it might be worth.Now, if the newbies will come down to earth at say a 100K property, an 80K would be better, a 1-4 property, those are deals that can be pulled down, otherwise, taking this to a million dollar deal is obsurd unless you have the horsepower and experience to own such a property.

Closer to the water wins.  

Contractor B wins the bid and his responsibilities will be pretty much everything because I have a different full-time job.

When the bidder has owned other properties with equity I have been able to reach terms on the existing property that would let the bidder attend the auction confident that funding would be available should they place a winning bid.