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Updated about 11 years ago,
32%+ cap rates in N Dakota...too good to be true?
When its too good to be true....it usually is! There is always a catch or something you don't think to ask until its too late.
Im trying to find the catch with this one: buy dormitories in ND to service the oil workers. Collect 32%+ cap rates forever with no work to do.....or take a guaranteed 25% from the developer
This is the project: Great American Lodge, Watford City, North Dakota
Anyone done anything similar....what am i missing? They say there is 60 years of oil there and the lot is well located for travelling to work.
any help would be great
thanks
Paul