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1 April 2020 | 5 replies
Right now they are not allowing fund redemptions.Here's what they sent me:Fundrise Advisors, in our capacity as Manager of the eREITs and eFunds, has determined that it is necessary at this time to suspend the processing and fulfillment of redemption requests.While under normal market conditions, we seek to provide investors with the ability to redeem their investments on a regular basis, during times of financial crisis or extreme uncertainty, it is absolutely critical that we suspend redemptions in order to protect the interests of all our investors.As Manager, we have an obligation to make decisions based upon what is best for the entire Fundrise investor community and must always put the priorities of the whole above any one individual.Fundamentally, Fundrise investors own real property, which is simply not liquid.
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24 February 2020 | 4 replies
I told the property manager representative that we do not intent to be actively involved with the ongoing management of the property, however, we want final approval of new leases because we are concerned that the property manager may just fill the space with a convenient tenant, or a tenant that is otherwise “low hanging fruit” rather than going the extra mile to obtain a tenant that has a higher probability of staying for a longer lease term, or otherwise has a better economic profile.
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24 February 2020 | 10 replies
Here's the screenshot:If it says "Yes" I look at the detailed T12 (trailing 12 months) and I look for those economic inefficiencies (like low rents, high repairs and maintenance, high vacancies, high capex, etc) that I can improve.As others said, you need to read books/listen to podcasts/attend webinars and seminars to know apartment underwriting.
5 April 2020 | 4 replies
However, when people want something enough they will pay for it, and that's market economics 101.
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8 April 2020 | 2 replies
"He who has the Gold at a time of Crisis, makes the Rules."
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7 April 2020 | 4 replies
Hello everyone,I hope everyone has had an excellent weekend despite the current crisis.
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7 April 2020 | 4 replies
Given the current economic state I want to keep this as my last and final option.
7 April 2020 | 12 replies
I find it completely unethical, spiteful, and flat out disgusting to use this crisis and rent freeze to their advantage when it's intended for those who have lost their source of income and/or are dealing with life and death with themselves or their loved ones.
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6 April 2020 | 8 replies
Thankfully, I have 100% collections (granted my portfolio consists of 6 units).I do believe in general that this economic shift has a lot of people that thought real estate was a risk-free way to make lots of money reassessing their risk profile and outlook.
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13 April 2020 | 8 replies
It's difficult to say for two reasons: First, a lot of lenders have changed their normal rates and terms during this crisis so those may be pretty solid terms depending on the lender.