Mangled by the market!

[Will G.]

I have been experiencing awful conditions as a buyer, expected to pay record low cap rates AND accept giant material defects, quickly and with cash!

Sellers are  trying to unload turds to unwitting newbies and unfortunately they are!

My last attempt was no exception, seller wanted 5 day inspection on what was billed as primo condition 20 year old property, he blessed me with a 6.5% cap rate and "misstated"

Expenses, followed me around during inspections telling me over and over how the neighbor next door is ready to purchase if i dont, never mind the failing brick siding, lack of house wrap, broken, non working windows, rotten decks,etc,etc.

BUY IT NOW ask questions later cause there are 10 people behind you who will be happy with making zero for 3 years!

You can keep this stupid market! 

[Steve Vaughan]

I hear you. Same thing in my quad space. Unrelated LLC members are partnering up for GRMs of 15 and willing to deal with tenants and toilets at a 4 cap.

What I see are future motivated sellers.  Do this for 4%? Wait, 2 because they will hire everything out including management.  I'll be napping in the meamtime.

But the last 3 dogs I sold easily by owner for full retail should have given me a clue :)  At least you didn't buy bitcoin at $19k. Right?