Quote:
Originally Posted by Eric Coffey
In fact, many savvy CRE investors intentionally seek out under-performing assets, and/or those with other issues (deferred maintenance, etc.).
The value-add space is still relatively hot, especially in multi-unit/multi-family properties.
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No offense, but you may have won the "Captain Obvious of the Internet" award this week.
Yes, many savvy CRE investors intentionally seek out under-performing assets and/or those with other issues. That is why they have staff who spend 40 hours per week pouring through tax assessor records and county registrar records, calling, mailing, emailing and door knocking every single owner of multis within their targeted geographic area.
Be advised, properties that actually sell at 2% caps in 2019 are not value add, unless all of the value is in the dirt... But of course, now I am being Lieutenant Colonel Obvious...
DL