Periodically, I write pieces on here about how our knowledge of achievable rents cycles back into our acquisition process.
Wanted to give you a concrete example.
There’s a deal we looked at several months ago that sold in the $700-750k range.
At the time, not knowing as much about achievable rents, we thought the deal looked expensive.
Now I know we could have paid in the neighborhood of $850k for it and been fine.
Obviously, that one is a miss.
But I’m now circling back to other deals that looked marginal to see if they will work, given what we now know about rents.
(Sorry not to be able to give you the address, but I already give away more information to my competitors than I should!)