Concho nice move buying last year. You and many Piggs who bought in 08/09 are proving to be prudent decision makers.

Bearish grinder meaning the area/condition of the home etc… lots of 92113s available and other like low end stuff. It is something I just don’t want to deal with. Not so much the neighborhood but the potential for major damage to the home and rehab. Forget about it. That is still where the margins are a bit wider but at this point we are okay. Bidding wars on the steps suck but anything of decent quality in areas we are shopping are gauranteed to have them. If it means I only take a 10% margin but I get a place in 92128 or 92129 rather then a 15% margin in one of the other areas I will take the hit on margin and get the location. Less work, I know the submarket better, and I know we will not get stuck with the property.