I figured given the liquidity risk (funds are tied up) and performance risk (amount of effort/execution that goes with rehabbing) the required return must be fairly high relative to required return with other property types.

I've also seen a phenomenon where people who make a bunch of money in some unrelated biz get the wild idea that it would be cool and fun to open a restaurant/bar and make a bunch of money while having a blast. 99.9% of the time, they seem to end up going down in flames!

Very cool that you found us through the Podcast!

As long the concrete is clean, dust free, the proper Liquid Nails would do it.

Why did you keep raising rates even though the market had cooled?

-Cool our heels and see if the bank approves the SS before the auction?

Less risk of bad things happening if you're borrowing $100K from a wealthy relative that had $2 million in liquid assets.

WOWI would try to find another way out of that situation.Unless you have millions of dollars in cash paying 200k to preserve credit and unload bad debt doesn't make sense.If 200k cash represents a large chunk of your liquid wealth I would not do that deal.I am not giving legal advice of any kind.

@William Donaldson Cool!

(NYSE: AHM) today reported that it is working diligently to determine how best to resolve the liquidity issues that have recently developed with respect to its business.