This is to alarm you!
I am NOT seeing property prices going down!
I am seeing them stabilize and in some case go up!
I know all of you are searching for that Mystical Steal!
Well, here it is!
That's right!
There is an 8.5% Cap Rate CRE Multi-Family Property in Las Vegas that needs to be acquired.
Generally, in Las Vegas, NV, most properties that would be listed at or near an 8% Cap Rate are properties I would NOT recommend to you. These properties will have lots of hair on them and trying to trim the excess follicles will be daunting.
The problems could be that the tenant leases have less than 3 years remaining -- with no more tenant options; or they are a weak non-denominational church (type) tenant; or they are basing the 8% on whether or not the new owner will be able to re-lease the remaining vacancy up in a short time period post escrow (Not Likely).
So, if any agent, whether they are here in Las Vegas or elsewhere, is telling you, you can acquire a property for an 8% Cap Rate, please expect the sales prices to be more or less in the 6.5% Cap Rate range. At least your chance of a better tenant or longer lease exists with that property.
BUT, with that said, this multi-family/hotel apartment property is netting +/-$20,500 per month!
Yes, it is in Downtown Las Vegas; and you could walk away with the 'that's a down and dirty property' attitude.
Yet, the tenants here are long term and the property sits right smack in the City of Las Vegas Redevelopment district.
Besides, housing is needed in this area; this is housing; and Tony Hsieh is building an apartment complex down the street.
If you don't want to buy it, lend me the money, I'll buy it and flip it in a year or so when the price has increased.
Or, I'll refinance it and pay you off.
Interested?
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
I am NOT seeing property prices going down!
I am seeing them stabilize and in some case go up!
I know all of you are searching for that Mystical Steal!
Well, here it is!
That's right!
There is an 8.5% Cap Rate CRE Multi-Family Property in Las Vegas that needs to be acquired.
Generally, in Las Vegas, NV, most properties that would be listed at or near an 8% Cap Rate are properties I would NOT recommend to you. These properties will have lots of hair on them and trying to trim the excess follicles will be daunting.
The problems could be that the tenant leases have less than 3 years remaining -- with no more tenant options; or they are a weak non-denominational church (type) tenant; or they are basing the 8% on whether or not the new owner will be able to re-lease the remaining vacancy up in a short time period post escrow (Not Likely).
So, if any agent, whether they are here in Las Vegas or elsewhere, is telling you, you can acquire a property for an 8% Cap Rate, please expect the sales prices to be more or less in the 6.5% Cap Rate range. At least your chance of a better tenant or longer lease exists with that property.
BUT, with that said, this multi-family/hotel apartment property is netting +/-$20,500 per month!
Yes, it is in Downtown Las Vegas; and you could walk away with the 'that's a down and dirty property' attitude.
Yet, the tenants here are long term and the property sits right smack in the City of Las Vegas Redevelopment district.
Besides, housing is needed in this area; this is housing; and Tony Hsieh is building an apartment complex down the street.
If you don't want to buy it, lend me the money, I'll buy it and flip it in a year or so when the price has increased.
Or, I'll refinance it and pay you off.
Interested?
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.