When deals are really just "overpriced offerings"

[David C.]

To the group:  As more and more "deals" cross my desk and I perform underwriting, I find that the vast majority of these deals are simply overpriced offerings - even in lousy locations, Cap Rates are around 3-4%.  Most offerings have minimal meat on any of the bones, and by the time financing is factored in, it cripples the cash flow, sometimes into the negative.  It's amazing to see what are being called "deals" these days.