I can't escape the feeling that the smart money is selling the duds to the dumber money, and I'm not eager to be part of the latter.I'm not at all enthusiastic about paying retail prices today, only because, despite rents being up and rates being low, prices are still getting bid up to barely-tenable or (IMO) unrealistic and unsustainable levels.I'm not willing to call a "crash" though since it's also true that "you'd be amazed how long people can sustain the unsustainable".So I'm personally willing to buy but am pricing in lower rents, at least 25% below current "market" rents.

Now battle royal ensued for a decade to get the Casino approved.. and it finally was and was built.. its the largest Indian casino in Northern CA and its within 1 hour of the North Bay and SF and of course in the Sonoma Wine country.

And it was zoned residental.. however it was on a free way off ramp access road.. and they had just built a shopping center one block over with a Home Depot Anchor.Then about 15 years ago One of the Vegas gambling concerns was able to lobby a local tribe to establish a casino.. 230 million for the land across from us..

if you own it for many years they will usually look at todays value. not what you paid for it.I bought 4 acres in Rohnert park in 95 ish.. was out of the city limits paid 27k for it.. well by a stroke of luck and some foresight I like to think I had or have.. it has now been brought into the city and is directly across the street from the entrance to the Graton Casino and zoned mixed use resi.. value today probably about 3 mil. so if I go to develop it I am certainly hoping lender throws the land in at 3 mil not 27k and pretty sure they will.which community are you waiting out the moratorium..

For those reasons I am very enthusiastic about this opportunity.Thank you again,Sharon

Hi there real estate enthusiasts! 

@Aj Parikh, I appreciate the enthusiastic welcome, thank you!

Wages here aren’t going up much, and may be going down in the hospitality industry especially, as the casinos continue in their union-busting and anti-worker efforts.

I also have roots in New York (did college over there among other things), so I would also enjoy connecting with real-estate enthusiast over in the States.

In general, the most experienced sponsors with long track records of success have developed strong and enthusiastic investor bases over time.