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I agree with your assessment. Charlotte is, however, starting to feel the impact of the mortgage meltdown. With guidelines as tight as they are, many sales are falling through. I've been hearing this alot from my clients in the last 45 days. I give it 30 to 45 days and the lenders will ease up enough to get these deals done. Other than that, Charlotte is still strong.

Charlotte, NC is one of the stonger markets in the area. The only thing is that a lot of investors have gotten wind of this. We are only now feeling what most of the country has felt, but in a very diminished way.

That's a good idea. I would be happy to provide a handful of free reports for anyone who is interested. Keep in mind, we only cover Mecklenburg Co., North Carolina right now. We will be expanding over the next year, but if you or anyone you know work in that area, it would definitely be useful.

If anyone would like one, email me at [email protected].

Thanks!

Western states are very different from many on the east cost, like NC, GA, SC, etc....

I've had some national exposure, and it is all over the map.

I deal with a lot of mortgage brokers in with my law practice, and they are singing the blues right now. They are having tough time getting borrowers approved since lenders are tightening their guidelines.

What that means for the flipper in the lower-middle income range is that you need to be prepared to carry back a 2nd or stay in areas that will draw good credit buyers.

For rentals, I think there is great opportunity. Those who can't buy will rent. REO inventory will rise, and rental demand will increase. Not a bad stratigery to be a landlord.

Then you have to consider your local market. In NC, we are still pretty strong on sales, but you never know what will happen next month.

****Watch the news next week. I've heard from some sources that a big Subprime player is shutting its doors sometime next week****

The internet is just like any other business venue. You've got to offer something.

Business is not rocket science. You need to provide a product that other people want. You sell that product at a price which covers your cost.

Its hard work. If you don't have the expertise to provide or sell anything. Get a job and work in a field you enjoy. Once you get the experience, you can then venture out on your own.

I was always an entreprenuer, but I worked for someone else to develop the expertise in my field. I now own a law firm and 2 businesses.

It took a lot of work (and still does), but the satisfaction is in the work --- not the money (the money does make it fun, though)

:wink: I promise this is not a solicitation, but I happen to know a little about this topic...

Most services are data mills. The problem is that they use automated systems to deliver data. There is very little 'human' involvement when compiling it. You need that human involvment to search the tax records, civil court records, judgment records, and the register of deeds.

From my experience, most services are very 'so-so' and offer very little useful info.

This is especially important when looking at pre-foreclosures and short sales. You don't want to spend weeks negotiating a short sale to only discover a $20k judgment that has to be paid at closing. That will usually kill the deal. It's important to have that info from the beginning so you don't waste your time.

There are very few services out there, who are really good at this. Depending on your area, you may find a good real esate attorney or title agent who can get good info. There are also some services that are regional or local. You will likely get a little better info from them. Look for quality --- not quantity. Someone may send 10 times the properties, but the info may not be very useful.

What would be a typical discount for a small guy buying 3 to 5 properties with cash?

The most critical thing to have when working a deal is info... You need good data, or you will end up wasting weeks.

Our reports would be helpful for new investors. We are currently handling Charlotte, but will be expanding to Raleigh in the next few months.