Dude, you are beginning to sound like a used car salesman trying to pull a bait and switch. Where are my 5 houses? Oh, and since when does 37 x 52k = 20MM? BTW, I live in the Clearwater area, what's the name of the development, not that I think you are full of it or anything.
Melbourne, Sarasota, Clearwater, Port Charlotte, Port St. Lucie... I could go on. Shit, you can steal stuff in Naples...Naples! I was just there. I don't talk out my ass. I don't like Naples for a variety of reasons. That's not to say it's not a nice area. If you like Naples or areas like that, you can STEAL a place right now. The only exception is true oceanfront. That has not broken, but I do expect it to drop, even if it doesn't break, as people need to raise cash from 2nd, 3rd, 4th homes. Oceanfront you have to work hard for, because all the insiders angle for it and are right on top of every detail each minute of what's going on, and they've stroked and developed tons of contacts and relationships.
It was 2 million. 20 was a typo. I'm not going to just blurt out the names of developments that I've spent X number of hours speaking to banks about and doing due diligence on. Are you crazy? If you are serious, escrow some serious money, I'll have you sign a non-disclosure agreement, and I'll personally fly down to Florida and meet you, and we'll go to the project together. The only reason I haven't jumped on that project yet is because others that are wiser than me haven't. I've been watching all the players, and their lack of hunger and unwillingness to close these kinds of deals is bewildering to me. It leads me to the conclusion that there is some more major shit that is either going to hit the banks, or they've got inside information from our friends in government running TARP and TALF and PPIP, and they'll get a much better deal later rather than now. But I don't bullshit. I'll show you my homework, but not without protection. And if you're interested in Nevada, Arizona or Utah, you can find deals all day long just like the one I mentioned in Florida there, too.
Dude, MLS is for idiotic real estate agents so they can make commissions off retail client transactions. Bank workout departments don't list troubled projects, in totality, on MLS. They don't want to wait 10 years selling these properties a la cart. They want them gone, now. I'm talking a different world than you. You're clueless and wasting my time.
It's absolutely mind-bending isn't it!?!? We were once a Country that believed in rolling up our sleeves, and feeling good about the work we did. The chance of making more $$$$$ created even harder workers, and spawned innovators who are the epitome of Capitalism. To get a look at what were going to be soon, take a look at Sweden. HUGE taxes, and you can go to College until you're old while the government hands out a meager check. How can Sweden do this? Simple. Take from those who work via huge taxes, and hand it to the lazy garbage. Is it me, or is it suddenly almost "cool" to be a worthless piece of garbage with a hand out waiting for the almighty government?
Credit is dope, and we've become a nation of dope addicts. That's why the only hope in avoiding a depression is a new and better drug, provided and pushed by the government, but it's not going to happen given the balance sheet we have and now that the world is wise to us.
Dude, first of all, I wasn't "talking" to you in that post. Secondly, I'm not interested in troubled projects. I want 5 SFRs for $35,000 each. I said I'll give you $5,000 per. That's a lot more than you make cutting and pasting here all day.
You don't understand english very well. First of all, you're offering to buy 5 units without seeing them, let alone personally inspecting them and all the bank requirements to close? Second, and more importantly, what part of the bank wants to sell the whole block of 37 units for cash don't you understand? For a real estate 'expert' you sure are one dumb ass. Finally, if you think I am not financially independent for the rest of my life because of the fruits of my past labors, I could give a shit. I don't need to make another dollar. That's the luxury being a true entrepreneur, risking capital, used to allow you in this country, and I'm glad I capitalized on that opportunity when I did, since that door seems to have slammed shut rather quickly. Your sorry ass probably only knows how to make a 3% commission selling retail. Sucks to be you now. Realtors are the most worthless 'professionals' on the face of the earth. It makes perfect sense that you're one of them. Anytime I've ever had any dealings with them, I've had to do all their work, renegotiate all of their screwed up work product, and fix all their gross errors. I've never met more idiotic people of any profession than realtors. 'Profession' is too generous a term...
What I said, and what you conveniently ignore is that I would buy 5 comparable houses to the one in the article. The risk is mine. The cash is yours. Bank requirements to close? The only requirements they have is "do you have the cash to close?" And yeah, I'm paying cash. And, what part of I'm not interested in a whole block of 37 units for cash don't you understand? Oh, and I'm a lawyer not a realtor.