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Originally Posted by CalPersFatCat
You are a blowhard. blah blah blah.
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And you are an ignorant chump.
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Originally Posted by CalPersFatCat
You have argued that the deal "might be" an okay deal for an undercapitalized first time RE investor considering a mixed use income producing asset in coastal california and that we are presumptive by issuing cautionary "blanket statements" about aggressively marketed properties for sale with a prospectus indicating a cap of 2%.
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You have serious reading comprehension issues. I never said anything like that regarding the OP's specific deal. I was simply addressing the blanket statement you made, which was prior to the OP providing additional details.
Further, I gave it a pretty clear "no bueno" after a little more info was provided.
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Originally Posted by CalPersFatCat
Why don't you post one of those beautiful, value add, multi-anythings, marketed as a 2% cap, in which the value was not in the dirt, that closed in 2017, 2018 or 2019.  |
I can, but I asked you first, princess. Let's see one of those "beautiful, value-add, multi-anythings" with double-digit caps.
You seem to be completely out of touch, as sub 3% caps are quite common with value-add acquisitions. They are also quite common as averaged "market" cap-rates for numerous markets (which can be used to determine comps via "market" cap rate). And again, it's just one metric...one that is affected (and weighted) by multiple factors, including intended exit strategy. And, if there is
any scenario where cap rate is close to meaningless, it is a MFR acquisition with a value-add biz plan. Not to mention (as I stated earlier), margins are down across all asset classes, and especially multi-family. The total average for stabilized MFR is barely above 5% currently.
Not a bad thing per se, as it indicates high investor confidence, and high demand.
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Originally Posted by CalPersFatCat
Please don't encourage this fellow Pelican to hurt himself and his family.
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Again with the utter lack of reading comprehension, now with a heaping scoop of drama.
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Originally Posted by CalPersFatCat
People have to live with their mistakes long after you earn your commission.
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Ah, now we are getting somewhere. You obviously have an issue with CRE brokers. Can you show me on the doll where the bad man touched you? LOL.
Certainly, there are good and bad, just like any profession. I am no Patrick Bateman, but I can say that I've made my clients far more money per-capita than I've ever taken in. Far more.
Though, I do think it's pretty rich coming after my profession, when you worked for one of the most corrupt and loathsome entities on the planet.
CalPers has devastated countless lives, and will likely continue to do so for decades to come. Congrats!