@TyronMcDaniel Shifting to a buyer’s market. Been a disconnect for many months between what buyers can pay and the cope of sellers hoping to still get 2020 prices. The illiquidity of real estate always causes a lag.
@TheDukeofDirt 100%. Higher interest rates are driving up cap rates. Lock in at the lower price and refinance when rates inevitably come down. People seem to forget that cap rates are classically calculated using the risk free rate.
@constantraise Agreed. Cap rates are climbing and financing is challenging, but there are some positive tailwinds like rising rental rates, decreasing supply, and falling construction costs which can create great opportunities in the space.
@seandsweeney Have you attempted to negotiate deferral and dead deal terms with your architects? We use many relationship architects that allow 50% deferral until C-loan closing and a 30% dead deal write off.