IMO, none of these investment activities are good as totally hands off operations.If you don't vet every loan, you will end up with some very bad ones.

On its best day in today's market.Mls remarks say (among other things): *1) "Approval in hand!!"

I mostly wholesale from MLS, my guys dont mind since I'm handing them something with no frenzied competition that the MLS generates.

If you are selling a car and 2 different people come to look at it at the same time.... 1 has cash in hand, the other says they have to wait until they get paid in 2 weeks - which one would you sell to?

I actually wish I'd borrowed more when buying these as I'd have more cash on hand and feel less worried about doing more deals right now.

My quad's come out to 64,000 a door for 850 to 950 a month in rent on my apartments.I don't look at it only from a cash flow perspective however.The area I have the buildings in is an A location prime for redevelopment down the road.Mike it sounds like your local market is competitive with investors and your margins are thin.On one hand it is good to be in a thriving market where demand is strong because usually supply is lower and the amount of rentals and new development for multifamily cannot meet demand.This helps rents grow at a rate that outpaces utility increases and inflation.The downside is it can make some investors overspend on a property because they feel good about the market.I looked for over 2 years before I bought something.I said many times those buyers were nuts.I tracked the properties and many investment properties after purchase just 1 to 2 years later went into foreclosure.They bought at such a price that it wasn't sustainable.I look for a 10 CAP or better on my purchases.The problem is if you someone who has only gotten 1 percent interest off of a CD or Treasuries or they have gotten beat up in the stock market.Those types of buyers jump up and down to get a 7% annual CAP return beating out your offers everyday of the week.By in large many buyers like this can be lazy.They only look in the MLS for listed properties.Value can be found marketing to sellers that are not on the market.They don't want to make public all of their problems ( I know it is common knowledge of default at some point but this is their mindset ).

I don't really have any of the docs, forms, contracts at hand just yet, but that's because I haven't looked.

Our hands were tied by the systems and the people and everyone at the bank who touches the deal.

I have a couple inside connections I can not speak of, but yes, I can confirm from first hand knowledge they are being held back, and disbursed in a controlled mapped strategy.

They should be required to setup and maintain on your behalf the files needed on hand to stay compliant.