Continue reading the forum and gaining knowledge :)

They're certainly there, as that market continues to lag, it could make it tough to move those contracts.

Cloud, MN.5 months on the market with the top rated realty company in the area.Struggling to sell at $124,900 after starting at $129,900. 10 showings, no offers.I was looking at renting this place out (since I already have 1 rental property) & waiting for the market to continue it's rebound.But the 50% rule is scaring me off now, as the house barely cash-flows when only considering PITI and PropMgt. $1100/mth income vs. $940/mth outgo.Am I overlooking viable options for moving this property?

The case came up cause a photographer went to a front of a house that didnt have curtains nor blinds on the front picture window daily and continuously took pictures.

Steve Stern, so are you saying because Cali doesn't have much lagging inventory that home prices will probably still continue its upwards trend?

In the short run prices should continue to rise from supply demand issues.

In this case, it sounds like your wife's continued income (which may or may not be adequate for payments), and the value between your After Repair Value and construction costs are the main factors the lender will need to get comfortable with.

Jimmy Moncrief Thanks for the advice and I will continue to approach local banks.

Make sure you have your team together, and do your research, and you'll be fine.Good luck and thank you for your continued service!

I have a large number of investors looking for continued opportunities to lend money to exiting and up and coming real estate developers and builders.Hope to talk soon.Regards,John Rubino