This is especially important for you because the competition for on market multi families is friggin insane! 

Not knowing the reality we can’t judge the PM for that, but their lack of communication is inexcusable and for that alone getting them to reduce the fee to 0 is worth the ask.

We see this a lot in competitive markets.

@Irving Garcia, I also live in San Diego and love to brainstorm and seek opportunity for a ground up new construction, which is fiercely competitive now days and challenging with an uptick in material cost and scarcity, but a firm believer of old saying “there is way when there is a Will”,,,, I knew of an opportunity in Old Del Mar, just the beginning of the year, that a house with 1,100 SF’ building on an approximately 9,000 SF’ land sold for $2.375m that after demolishing the building could build up to 4,000 SF’ and and potentially sell for $1800 per SF,, although very lengthy and challenging project going through city and coastal permits but at the end leaves respectable margins!

Backstory: Seller took on the project while ago but his contractors were only able to rehab (lack of motivation and no project manager to oversee it) half way.

During the peak season, this is less of an issue but during non-peak, lower-end properties that lack the amenities and aesthetic punch offered by the higher end properties suffer from the drop in occupancy the most.

I see it as a short term solution to: 1) being competitive in a sellers market (hard money lender can provide proof of funds letter which in some cases can qualify as cash ). 2) for a fix and flip you are loaned on the total cost of project.

This is a fantastic time to sell - competition is fierce and you can get top dollar and amazing terms.

A lot of the major cities here are competitive, but most across the country are.

Their questions are: They know in this competitive market it is hard enough to find one good deal.