Investors Marketing Forum, Jun 3 2008
Much was learned by chatting with other brokers- most notably the gap between seller’s expectations and buyer’s willingness to pay is widening still!
The guest speaker was Richard Knutson of Premier Apartment Advisors. Richard shared his insights with the group- no significant updates from last month’s message. Richard indicated that entitled land for Single Family Residences is in oversupply which will help high end rentals! A few comments Richard made are worth posting;
“When the market is falling, early out is better” and “Risk can be calculated, Uncertainty cannot“
A brief conversation with other Apartment experts in the room indicates the following; Brokers are working harder yet earning few to no listings. Owners are certainly uncertain about the future of our East Bay Apartment market. YTD transaction volume is a fraction of last year’s pacing. The few listings I reviewed, were listed at a 5% cap rate and in some cases lower… WOW! This market requires a very aggressive marketing strategy and proper pricing, which requires an expert broker with a proven strategy. Email Pete@CommercialMasterMinds.com or call 925-719-3569 to learn more about my aggressive marketing strategy.
Reviewing my emails, I noticed a few investments for 6+% cap rates with no owner inputs- that means if you wanted to work on your property- You are not allowed! To learn more about these hands off properties (NOT triple net retail or office investments) please email or call: 925-719-3569. Thanks for reading- I look forward to your feedback.
