A stupid email I get all the time

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“Hi,

I need a POCKET LISTING for an apartment building.

I have a CASH BUYER with $x,xxx,xxx to spend.

Need a high cap rate in a good area.

Let me know if you have anything.

Thanks,

XXXXXX XXXXXXXX”

So, let me get this straight: You’re looking for an off-market opportunity to buy something in a good area with a high cap rate (eg a low price relative to the income it generates)?

What a surprise… it turns out that I, along with every single other broker and investor in the entire city of LA, am looking for a similar property!

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