It's kind of like when everyone says to buy a stock etc. pretty much it's tapped out and the herds are all jumping on it and thinking they can't lose.They are still real deals but very hard to come by.

Of course that's not how I think of her :D.

I saw this on other commercial developments where the developer projected a certain return when the project was leased up.When the project was nearing completion the market had softened a little which hurt the returns in a big way.It sounds like sellers and developers are cashing in on the herd mentality and will be walking away with the most money on this.I haven't been there like others have but I have had talks with others about it.I would say do not throw more than maybe 10 to 15% of your total worth if that into it.This way if something crazy happens you are okay.If you throw most of your money into it you are playing the lotto.Some will hit it big and others will take a big loss when it falls.Odds are with the lottery you will be left in the dust.If I was a seller in that area I too would be cashing out selling the land or building and then take the cash and 1031 into properties that are not over inflated in different markets.The 22 million is an asking price and not a selling price for the apartment building.The only way I would take on such a price or situation is with a non-recourse loan with no carve outs.This way I cash flow like a beast and when the market hits the toilet give it back to the lender and walk away.Under any other scenario you can land big apartment buildings with just as much upside at much lower debt service to decrease risk and market fluctuations.

You seem to be just wanting to go out and buy something.Do not follow the herd mentality!

General contracting is like herding cats.

I'm ok being creative in markets and have found that to be keep to go a different direction from the normal herd of investors.

@Aaron Shickell  Do you mean plywood with a radiant barrier or actual insulated plywood?

And I agree with Tyion; the CCIM four course curriculum is excellent financial/market analysis training that will "separate you from the herd".

Herding cats really  !!

The herd is running left, I am going right.