Can it be true? Please, say it isn't so.
Did a foreign investment fund overpay 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 $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 any investors interested in any of a number of well positioned net leased properties that are listed in the low to 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 convincing foreign investors to even consider Las Vegas as a place to invest -- when there are steals here right now!
Now, this! IF True...I can't believe that this actually happened. I just can NOT believe it. What was the closing phrase that sealed this deal for this investor? I really and truly want to know.
For well priced an available investment property here in Las Vegas, NV contact David Howes at: davidATdavidhowesDOTnet or 702-501-9388
Did a foreign investment fund overpay 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 $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 any investors interested in any of a number of well positioned net leased properties that are listed in the low to 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 convincing foreign investors to even consider Las Vegas as a place to invest -- when there are steals here right now!
Now, this! IF True...I can't believe that this actually happened. I just can NOT believe it. What was the closing phrase that sealed this deal for this investor? I really and truly want to know.
For well priced an available investment property here in Las Vegas, NV contact David Howes at: davidATdavidhowesDOTnet or 702-501-9388
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