Compare it to a mutual fund with a 6% management fee...I don't care how well it performs, that is tough to overcome.

Does anyone know of an investor friendly title company that could perform title searches on homes?

But again, maybe it's a sign the bank would just like to get the heck out of the situation and all cash can make get a non=performing asset off the books.

You want to get a payoff for all that work and if a bank or fund bids 4%, then it's easy to feel all the time spent researching is not worth the return.But with systems and getting good with how to perform the due diligence you can really make nice returns with "no tenants, no toilets, and no termites."

However, we don't have the time to be managing rehabs.We have a close friend who has no interest in finding/analyzing/networking, however, he is really good at performing actual rehab work.

They are underwritten to the same standards as a conventional home, you have leeway to underwrite to secondary guidelines including compensating factors to determine affordability, likelihood of performance, collateral being sufficient for any future loan required.

You could justify you number with a cover letter, I'd just show my agent and let them convey the basis.If you got actual data from the seller and verified the numbers the seller should already know why the offer is what it is.Starting out I'd suggest single family as well, performing multis won't have much room to force appreciation, you need a distressed low performing project. :)

It turns out that the under-the-table foundation work the flipper had performed was just enough to hold the house up while it was on the market.

Originally posted by @Joshua Dorkin: That was just weak.I assume you are referring to the Broncos performance?

If there is a 1st non performing note what make you think you can get the 2nd non performing note to re-performing.