This week’s perspective is provided by Jim O’Connell:
ONCE IN A LIFETIME OPPORTUNITY?
For all of you stable, low risk investment property guys this piece isn’t really something for you. These thoughts are for those of you who have been waiting for the opportunity to buy all that commercial real estate, that has its fair share of risk, at prices that are falling into the “no brainer” category.
This week our team worked on three more properties that were offered and sold via the on-line auction process. And although I don’t know if the vehicle really makes that much difference, the point is that distressed real estate is finally being transacted at increasing volumes. And I’m not talking about the really broken stuff that needs to be torn down and forgotten, I’m talking about decent and even good product that has fallen into a crack somehow and needs to be sold for one reason or another to give it new life. Continue reading