Anyone know projects with inventory to yet to be sold?

[ocbuyer]

I’m working with some institutional money folks to buy out large portfolios of inventory already constructed units.

Homes, Condos, Conversions etc.

Does anyone know anyone wanting to cash out?

Our options for the developers vary, but usually mean buying them outright. We also work directly with lenders, hard money or banks.

$10M min – $200M max.

Let me know!

Very motivated to close quickly.

[powayseller]

Why are you trying to catch a falling knife?

[ocbuyer]

great question,

I have a disposition company that can sell the units off via online sales inside of weeks or months … depending on the #.

If I can’t turn the units over (priced a little too high etc) … they still might cash flow.

lots of options. i’m a bear 100% – but i also know what i can rent or turn over quickly.

anybody out there with suggestions?

[PD]

I don’t think there is much chance of finding something in SD that pencils out right now.

[ocbuyer]

still … would be nice to have a snapshot of the properties that are in the most stress.

[barnaby33]

To coin a phrase, “You betcha!” Wouldn’t we all like to see which emperor has no clothes. Of course, they probably wouldn’t like that. Just as a matter of curiousity, if you are a bear 100%, why would you be looking to buy right now? In a macro sense the numbers just don’t seem right and if you are looking to buy a large number of homes or even a whole development wouldn’t those macro numbers be your guide?

Josh

[ocbuyer]

josh,

im not looking to buy at a premium. i’m looking to take out projects at a low #. i work with 2 of the largest vulture funds in the US.

and, well, i’m not looking to give away exactly what i’m trying to do.

but i will say this:

i’m doing it in 3 other markets (FL, AZ, NV)
i’m focusing on condo conversions, and condos
i’m going to sell direct to consumer at market-rate prices

you want to see it in action?

help me find projects in SD!

[North County Jim]

ocbuyer,

Premier Coastal probably wouldn’t be a bad place to start.

[barnaby33]

I assumed it was along those lines. Its just that and correct me if you think I am wrong, real estate is seriously over valued, especially in SoCal. making the numbers work, especially on a large scale would seem pretty tough at this point. In a year or two your post would make a huge amount of sense. I don’t have any leads for you, except to say that Maisal Presley a developer of condo conversions seems to have alot of units for sale in my area. They seem to concentrate on conversions of older apt buildings. They have two alone on my street (florida) in the 92104 area code.

Josh

[ocbuyer]

Josh,

Is Maisal a developer’s name or the Company’s name?

I’ll search it right now thanks.

Yes, the market is heavily overvalued. Our price points are usually 20-40% of the current market price.

Our goal is to sell in the 40-60% range accordingly.

Our disposition is entirely web based and we conduct international marketing efforts so we get the most value for our marketing and the most value for our properties … of course all in the shortest amount of time.

Make sense?

At the end of the day we don’t really care if we only make say, 10%. We’re doing it 3-4 times with that same dollar within a year. If anyone is interested in starting a fund like these please post a way to contact you and I’ll follow up offline.

[Author]

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