Quote from @Jillian Ez: How have the numbers and your opinion changed given the current selloff in the DC market?

In my opinion and to answer his question, no, the agent is not just there for contract negotiations.

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

Instead of keeping them, I'd look to sell them and buy something more suitable as a long term rental.If you want to know why I have such a strong opinion on this, just google the following: - HOA Special Assessment - Florida Condos 2024 - search for news on the new laws - Zombie Condos

What are your opinions about Cleveland vs Columbus? 

In my opinion, once you know the rates for a specific deal, the best practice is to underwrite base on the upper threshold of the range for similar deals to be conservative.

Thanks for all the opinions/info.

After looking at these adjustments, what is your opinion on these numbers? 

In my opinion it will come down to your motivation.

Individual High Net Worth Borrower (No Prior Experience As a Debt Broker): In my opinion, it's individual mom & pop investors with no prior multifamily investment sales or debt brokerage experience that need brokers the most.