“Fully-upgraded units with significant upside potential”
You’d be amazed at how often I read those words, or something like them, in broker packages. And it still drives me crazy.
You’re telling me someone went to a ton of trouble to renovate all the units in an apartment building and then, when it came to lease-up, decided it would be a good idea to leave money on the table by leasing for less than top dollar?
Nonsense.