If you're considering buying a foreclosure, it can be an excellent way to get a deal, but be aware of the risks like property condition and the competitive market.

The pros to them are vast though, no cap on how many mortgages you hold, they don't show up on your credit report, the closings are quicker, the rates are competitive, we only require a soft credit check, no tax returns or employment requirements, and the seasoning periods a very short.

And he's right that running an MTR and being competitive is not for amateurs.

I agree with Matthew about nothing wrong them them doing it themselves, but the rates should be competitive. 

Lots of nuggets on there but not all episodes focus on REI.That said, Long Island is super competitive but your down payment could land you a deal.This week, we went under contract for a multifamily in Lynbrook and the investor put down just $65K.

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The average price per land for urban infill going 6-12 stories high on a higher density product is about 5 million an acre up to about 25 million an acre. downtown market premiums I've seen at the highest are 1200 a sq ft. in columbus you can get land about 1.5 million per acre downtown at best price, sells for about 600 a sq ft max, very little competition compared to miami. tampa I didn't really look at too much because miami has 22 zip codes that you can build at least 6 or 8 stories on and just a much better landscape than other markets. tampa is a little bit bigger than columbus but in my opinion more of a suburban market. miami is landlocked and very limited so everything is in redevelopment. both are amazing opportunities but the barrier to entry is much higher in Miami with the smallest plots of land infill going for at least 1.5 million I would say in areas like Wynwood Norte, Wynwood, etc. we looked all over but prefer east of 95 due to the condominium opportunities. multifamily is very strong in both markets but the condo premiums make it almost silly not to do one from the start and the use of deposits versus a single asset lease up and disposition is a longer sales cycle than the condo buildings being sold out prior to completion.

It's always inspiring to see someone channel their competitive spirit into real estate.

It is an interesting time obviously with an election and rates coming down and potentially a good amount of inventory being built but as the fall and winter come fewer people who put existing homes on the market which reduces competition for those first-time home buyers.

With the current housing market being so competitive, how do you see private money lending playing a role in securing properties quickly?