Exploiting other Real Estate Investors

[James McGovern]

In the 2021 time, New York investors thought they should be greedy and buy up all avaiable multifamily in Hartford. Now they have come to realize that the renovation costs are much higher than expected and are looking for suckers who would be willing to pay a lot for buildings that have sat empty for years and have blight liens against them?

How can an investor best exploit another set of investors who will likely lose their shirt on bad deals of the past?

[Gino Barbaro]

@James McGovern

I guess everyone on this platform who invests in real estate is greedy. We are all trying to find deals. It's the greater fools theory. The market has turned and they are holding junk real estate.

Who suffers? Their investors, the city, and most importantly,, the residents. It has happened for hundreds of years, and will continue to happen, as long as there are boom and bust cycles. If you want to point the finger, we can blame the Fed for holding rates low for so long, and the govt for printing 5 T, making money real cheap and allowing these NY investors to over pay on the real estate.

I guess you have to wait until the banks take these assets back. Find out where the loans are being held. They will be repossessed sooner or later, and investors will be able to pick them up at reduced prices.

Gino