Normally if there is a tenant in the property you will need to factor it from a cash flow perspective (either a gross rent multiplier or ROI).The thing is that many times properties will sell for much more without a tenant in them.

I'm looking forward to it.My contribution to these forums will probably be more on common sense, insight into the Huntsville, AL and surrounding markets, and some banking perspective -although I do not deal with mortgages, we have a separate mort. dept. that handles that.Thanks for listening, can't wait to meet everyone!

I would assume that the LA has nothing to do with the aquisistion from the owners perspective.

I made some mistakes doing it, everyone does, but now I know and I have learned something truly valuable that will stick with me because I have done it.Sorry for ranting but I know how you feel right now and I felt some fresh perspective drizzled with a little bit of rant might hit the spot :)

To many people get into this business for the wrong reasons.Just put everything into perspective and treat people like you would want someone to treat you.

From my limited perspective Chattanooga and the current market seem very ripe for the pickings.

I guess it all depends on someone's perspective of "winning".It's no different than when I was happy getting rid of our crappy old car as a trade-in for $3k last year (felt like I won) until I saw the dealer wash the car and put it on the lot for $6k the next day (felt like I lost).

Over 10 people in my investment group have bought from this builder and he came highly recomended from an investor friendly perspective.

Because I don't believe anyone would consider buying the property for even $300k, I would like to know if anyone else shares my skepticism, and if so, what you would offer, from the perspective of a residential buyer?

Will, I agree with nearly 100% of what you stated, but I disagree with your comment on the bailout, and part of your perspective on the seasoning.