The value in real estate is actually high leverage + high risk taking in speculative environment.

There could be some indirect cause their due to lower quality properties attracting that type of renter, but at this point that is just speculation on my part.

Account Closed Too funny...yeah...not a fan of speculation and we try to keep our buyers protected whenever we can.

Passive syndication investors need to understand what fair and unfair fees look like, and how to ensure that the passive investor is put in a good position.I can't personally comment on whether REITs or syndications are more efficient at value add because my first-hand operational experience is only with syndications, so commenting on REITs' ability to efficiently deploy capital for value adds would be more in the realm of speculation.

I can't really speculate more about this project without much more inforamtion, age, comps, condition, quality of the conversion, location and market will all play a role in the valuation process.

This is pure speculation on my part.  

But not 2-4 unit properties with an ADU, and not on a SFR with multiple ADUs (that's how I know that precisely zero MLOs were involved in the drafting of that landmark California legislation pertaining to ADUs).That guideline could change in 2 or 5 or 15 years, but that's speculation.

Its all part of the "speculation" of real estate investing (they can sell you all they want about how REI is a slam dunk, but its still speculation...)Good luck.

But it's speculative and never guaranteed.

To me, that sounds like a failure that First American would/should cover and, I'm speculating, does cover.