There is just something about new construction! Affordable housing, gentrification and tearing down old buildings can all get really emotional, but when you can build 132 apartment units on the same footprint that once consisted of 4 single homes? This is the way.
Top 10 mistakes I've witnessed in real estate, some with graver consequences than others:
10) Self-managing
9) Being cheap
8) Retrading
7) Keeping rents low
6) Skipping legal
5) Trusting others' numbers
4) Rushing DD
3) Bad Debt structure
2) Bad partnerships
... and...
1) Overpaying
You can fix or get lucky with almost every other mistake. You cannot un-overpay.
Tough Wins: our breakdown of the 1621 G Street Apartments deal in Lincoln, NE — pricing discipline + active buyer management = closed transaction. Read more: https://t.co/8LfHbNrnuE #CRE#multifamily#realestate
It happens countless times a day in America.
A broker cold-calls a property owner to see if they’d be interested in selling, and they get the most nonsensical answer possible:
“Sure, bring me an offer.”
When the broker asks for more information about the property, they get an even more nonsensical response:
“No, I’m not giving you anything. You said you work with buyers, so bring an offer.”
Now, it takes a pretty extreme level of unsophistication to take this position.
Anyone who has even minimal common sense understands that the same property could be worth $5M or $10M, depending on what the leases say.
If the building is 40,000 square feet and the rent is $1M a year, which would be market, it could be worth $20M.
If the seller gave the tenant a 20-year lease at $300k with no increases, and a 10-year flat option, the same exact building could be worth $4M.
If you really are serious about selling, then you need to be serious about sharing some basic information if you want a real offer.
If you are so naive about real estate that you don’t understand this simple concept, maybe you’re naive enough to sell your property for much less than it’s worth.
In which case, maybe we should bring you that offer after all…
4516 Izard St: the smartest buy in Midtown. A 7.6%+ entry yield + TOD upside = a standout Omaha opportunity. Read our full take: https://t.co/0S13zZtAW7 #CRE#RealEstate#Omaha#Investment
@twallyweb SEC regulations are no joke. Like banned for life if you get it wrong type sense of humor. Skip the AI and talk to a syndication attorney in your state, but seriously.
Underwriting: Windshield or Rear View Mirror? Are you underwriting deals looking backward or forward? Quick read on balancing past comfort with future uncertainty. https://t.co/0nf4FPhJHG #CRE#Underwriting#RealEstate
https://t.co/tllbQFENRr
@jt_ryder I have even had follow ups after my first polite refusal. "We prefer to keep everything on-line for iur files...." Never seen anything like it in 10 years!
Looking for multifamily deals in Omaha? Use Crexi/LoopNet and MLS for listings — but build broker relationships for better off‑market access. Tips and pros/cons in our latest post: https://t.co/I8TpS4BaF8 #Omaha#RealEstate#Multifamily