Has to do with the soil.

Apparently the vacant lot next door used to be a Martinizing dry cleaners and the chemicals had penetrated the soil.

The area is home to many major companies, and has a healthy pipeline of economic development.I'm curious if anyone on here has done furnished rentals targeted at higher end clientele?

u_page=2798&u_sid=10164244They were just starting to do soil replacement when I left in 2000.

Although the majority of commercial lenders do limit their lending to 75-80 LTV, there are programs that do allow for 90-95 LTV/CLTV and could effectively extend your purchasing power/leverage (downside is that the rates are in the high single digits/low double digits, requiring a healthy cash flow for it to make sense).

Would not work here I think, too much sandy soil and on a hill.  

Keeping a healthy reserve can help you avoid cash flow problems when the inevitable repairs come up.

It's one thing to tell them but " a picture is worth a thousand words " rings true.So 244,880 X .60 = 146,928 NOI146,928 NOI / 3,000,000 = 5 CAP resaleSo all in 1,800,000 there appears to be a healthy spread on your project.

the other information you may need is a soil test for that area.

Here in Bay Area, economy seems to be quite healthy still.