He has spent the last several years working with borrowers on loan mods as well as suing lenders for predatory lending practices.Although this is clearly a hard money loan with a business purpose on an investment property, and not a “consumer loan,” we are hesitant to lend to this individual.

You might also look for demographic information like is the area growing or declining, resident info, income, etc. check with the Chamber of Commerce.

I decided long ago that I want single family homes in B & C class neighborhoods that are sustaining or growing in population.I come across a lot of investors at my meetings that are encouraging me to invest in Cleveland multifamily homes because the cash flow is so amazing.As mentioned in previous posts - I have a business that provides me with 6 figures + right and growing - so cash flow is not a problem.

At least they weren't operating a "grow house".

The basic aspects mentioned above will be needed for small commercial deals, less for residential commercial like an 8 unit apartment, but if you get to look at a small note, 50K on a strip center your experience and education level requirements just jumped way up.So, the book the paper game and similar books about how easy it is to buy notes is a consumer product, they are not educational materials as much as they authors may want to describe them as such.

Thank you, its almost my biggest fault at the same time, its difficult to grow a business when you spend time making little things "perfect" all of the time.

If you want to grow your portfolio it might be harder to pay off properties quickly unless you have lots of income or are liquidating other assets.Most investors on here advocate using small down payments and securing 30 year mortgages and not prepaying them.

It needed a furnace heater installed as it didn't have one or the venting needed for it, the water heater was in the kitchen not separated by any walls, a giant tree was growing into the foundation causing it to be very bumpy and cracked, about 1/4 of the INSIDE of the house was stuccoed, and a lot of the house wan't up to code.So, it was basically a brand new house needing to be built.

Consumers tend to be short sighted and freak out as values change and bail out right at the wrong time.

If your goal is to grow and increase your net worth/income/holdings, then this presents a great opportunity, in my opinion.