I know some not very close co-workers, just one or 2, at work doing these stuff. They do one whole building of apartment at a time. A dozen floors or so? Basically that's their main job. The 100ish K salary is just supplemental income, and obviously they don't even care about promotion or whatever. They just do minimum to not get fired. 9-5 on the dot. I think I heard they are doing Phoenix. Mostly started around 2008/9 or something. Difference is I think they have friend in Phoenix that can monitor this full time, but just need investment influx which is much better in Vancouver than Phoenix. So the Vancouver side manages finding investment and doing the accounting and all that.
Don't quote me on this tho, just 3rd hand information here.
But I do agree that trust, effort and competence needs to be high on these type of project. But at least it seems that the returns justify it some what.~
Interesting. Was Wiki'ing Phoenix. and there's a paragraph that says
"Despite the housing collapse, Phoenix is seeing an improvement in its rental housing. “Commercial-property owners are counting on apartment buildings to lead the Phoenix area's real-estate market toward recovery, based on a recent rebound for units rented and buildings sold.”[51]"
Anyways, the world is so big. And even just NA has so many stable investment and RE markets. Just limiting one self to 'invest' in the currently highly risky Vancouver RE market is definitely narrow vision. I'd even argue that sitting on cash might be a better bet than plunging into the RE market at this height.
發表於 2012-11-27 22:09
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