Commercial loans are about 3.8-4.2% right now... so if you buy a 5 cap that is highly levereged, the play is appreciation, and increasing NOI.oh and for those that say appreciation is fiction, tell that to my friend who bought a house years ago for 20k and sold it for 950k.... or the bldg they bought for 450k selling for 3,5 million....  

Big-name companies are pouring hundreds of millions of dollars into the area!

He had built over a 20 million dollar portfolio from scratch and there I was the new guy.

There was a gentleman who closed a million dollar property, and from then on I wanted to do investing.

. :)I'll just share some more interesting things about REI in Estonia for now.Estonia in 2011:- population: ~1,2 million.

let's make a million this week", the sign on my office door as I walk in in the morning is"follow up until they file a restraining order" good one for all of you sales guys out there.

(BTW, I live in a midwestern city with a population somewhat over 2 million).The site helpfully shows a listing price, and, for most listings, an estimate value from Zillow, for whatever that's worth.

Though occasionally that can involve a $5 million to $10 million deal size, most of what I do is $25 million and up.

William Nickerson's, "How I Turned $1,000 into Five Million in Real Estate in My Spare Time" has been recommended to me several times.

Joshua,I have a similar project but the rents are way higher. 30 units, Acquisition: $450,000 + Renovation: $1.2 Million or $40K/unit, rents: $1250/moI think your budget of a little bit over $30K/unit is realistic to a little bit high given you're going to get rents of $800/month.