I love a down market. All this uncertainty has property values dropping faster than a womanizer drops a date that says the "L" word.
The statistical figures are starting to show some significant drops - in the 20-30%ranges - and I don't see daylight yet.
I like this NNN leased investment. It's got a lease guaranteed by CVS corporate. It's 2.3M and returns a 12.58 cap rate. Unheard of only 2 years ago!
Or 48 units in Los Gatos for $12.22M, net income of $568,277 and 4.61 cap. based on actual rents. Just a year ago we were seeing 3-4 caps based on proforma rents.
So, there are a lot of investment opportunities in the market. It hasn't been this great a time to buy since 1993-1994! If I only would have kept the house I bought in 1993, in willow glen, for $172K.....
No comments:
Post a Comment