Is This The New Normal?

[Christopher Munn]

I recently found a deal in the midwest (area where C class apartments trade between 7.5% and 11% cap rate).

16 units doing about 28k in NOI. (Not very good)

I own a 8 unit in the area that does about 30k NOI so this place has the potential to do around 60k with good management and a bit of reno.

The place sold to a cash buyer for 650k.

How are us "investors" supposed to compete with that??

I will stick to my standards but it becomes very frustrating when you aren't even close to being able to get a deal.

But we slog along...