Hard money loans are considered loans of "last resort" or short-term bridge loans.However, an entire industry of lenders has grown in the last ten years.

A lot of first-time investors are looking in Bloomfield (great train access), but the taxes are high and the players in the game are vast.

That doesn’t mean that paid Mentorship is bad, it means there are bad players.

The resort industry knows this cycle well.

@Charit N.You're absolutely right about the midwest being overlooked (but still a fantastic place to find that magical combination of cashflow and appreciation).Tons of growth happening around these parts.We're focused exclusively on the Twin Cities (MPLS and St Paul), but know operators in pretty much every major midwest market you could possibly want to play in.DM me and we can connect you to some awesome players.

I'm very impressed by how level headed the players are.

I have seen it hundreds of times... but again this is the US.. and its a free country.. then you have the bigger players in the market that swoop in and continue to pick these homes up with the 2 to 5% rule they will own many of them and run it like a business.  

Like I said, as REI, this shouldn't happen.I have two "weeks" and can go to a top of the line resort for vacation (or sell the weeks for more than the maintenance fee), so we never have a loss.  

This strategy does not work for REI unless you are a really big player and buying up large numbers of properties in a concentrated area. 

Like you said, there are good players and bad players in the turn key industry.