If the proforma has the rent roll at $1400 a month, there is a discrepancy that could lead you into a bad assumption on your business plan.Also one caveat, be aware of physical delineations around the area like bridges or railroad tracks or a canal. 

The obligation to mediate, unless otherwise agreed, will terminate if the entire dispute is not resolved within thirty days of the date written notice requesting mediation is delivered by one party to the other at that party’s last known address (physical or electronic as provided in § 26).

Many property managers tend to focus on physical occupancy rates, but what truly matters is the economic occupancy rates—the actual rent collected.

We have emails, video conferences, secure portals etc etc.We do have a physical office, and half of our clients are local.

You can visit the property, contractors, etc where as Detroit will either involve longer travel or trusting someone on the ground when you arent physically there.

This included some landmark deals including Rockefeller Center’s $3.5B loan and Miami Beach’s Fontainebleau $1.2B refinancingAlternative lenders filling traditional banking gaps with short-term solutions which has already begun a cycle of consolidation that will likely continue and accelerate in 2025The Office Sector Divide:CBD property values are down 50.7% from 2021 peaksClass A office properties seem to be in their own vacuum of prosperity with trophy properties commanding premium rents ($100+ PSF nationally, up to $247 in top markets) with strong occupancyHybrid work continues impacting older building valuations which have not faired as well, but this may begin to rebalance as more companies are instituting mandates to return to physical officesChallenges & Opportunities:$1 trillion in loans maturing by 2026Interest rates up from 3.5% (2021) to 6.74% (2024)Experts such as AEW’s Michael Acton and Blackstone’s Nadeem Meghji see the best entry point in the last 15–20 years and we agreeMarket Outlook:Current market conditions present unique opportunities, with inflation-adjusted prices at historic lows and yields at decade highs.

If so, invest.Then, ask yourself does this property provide the characteristics you need for it to give you your return-- location, rental demand, buying demand, physical structure, etc.

How did you incorporate the funding fee PLUS the closing costs?

With real estate, you’re owning a physical asset that’s less subject to daily fluctuations.

If you want to hone in on the luxury Nigerian theme, you’ll want to incorporate more boho pieces that use natural materials like rattan, etc.I hope this helps you find a starting point for your refresh!