There are some really good deals in real estate right now

[Tobin S.]

Unfortunately, the banks want everything plus your first born to approve you for an investment loan. The best loan I can find in the area is 20% down plus nearly $3,000 in closing costs. And that's on a $32,000 deal. Ridiculous! It's looking like you already have to have a lot of cash reserves to take advantage of the current market. It pretty much forces small time, wannabe investors like me out of the market. The banks are so afraid of making a bad deal right now that they aren't making any deals.

I think I'll just refinance my home for a lower interest rate. It's about the only investment in the housing market that I can comfortably make right now.