Can it be true? Please, say it isn't.
Did a foreign investment fund overpaid for a freestanding drug store here in Las Vegas.
I do NOT know how to get a hold of these investors and I wish I did. Why would anyone pay more than a $1,000 PSF for any property. Where is the upside? And, what was the Cap Rate that this will turn out to be once the dust has settled?
It never ceases to amaze me that anyone, whether foreign or domestic, would fork over so much cash for a real estate property in which the ROI was so far out into the future that it may not even be calculable.
In the last year, I have been trying to get foreign investors interested in properties that are listed in the low 9% or high 8% Cap Rate range. And, I am talking an ROI that will pay for itself in 11+/- years. But, I have been having a hard time with foreign investors thinking that they wanted better deals.
Now, I heard that this has actually happened and I just can NOT believe it.
How stupid are these guys/gals? And, can I have their contact information? Talk about throwing away hard earned money. This is NOT a good gamble and will turn out to be a really bad one -- once they realize that they have been hood-winked.
For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net
Did a foreign investment fund overpaid for a freestanding drug store here in Las Vegas.
I do NOT know how to get a hold of these investors and I wish I did. Why would anyone pay more than a $1,000 PSF for any property. Where is the upside? And, what was the Cap Rate that this will turn out to be once the dust has settled?
It never ceases to amaze me that anyone, whether foreign or domestic, would fork over so much cash for a real estate property in which the ROI was so far out into the future that it may not even be calculable.
In the last year, I have been trying to get foreign investors interested in properties that are listed in the low 9% or high 8% Cap Rate range. And, I am talking an ROI that will pay for itself in 11+/- years. But, I have been having a hard time with foreign investors thinking that they wanted better deals.
Now, I heard that this has actually happened and I just can NOT believe it.
How stupid are these guys/gals? And, can I have their contact information? Talk about throwing away hard earned money. This is NOT a good gamble and will turn out to be a really bad one -- once they realize that they have been hood-winked.
For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net