I’m always looking to buy screwed up buildings in interesting areas for reasonable prices.
What does that mean?
Well, by screwed up, I mean buildings with:
- Below market rents
- Deferred maintenance
- Obsolete layouts
Because I intend to renovate these buildings, I don’t care that much about the existing income or expenses.
Instead, I care about the price per sq ft. Depending on the neighborhood, I can pay up to $250 / sq ft. Any more than that, and there’s no way for me to make the numbers work, given how expensive it is to fix up these kinds of buildings.
So, if you know of an off-market deal in an interesting neighborhood that seems like it might work for me, get in touch. We’re happy to pay commissions and/or protect brokers.