the Problems are the Path: Notice of Default Opportunity in Multifamily Unit

 

    Startup bubble fueled by Fed’s cheap money policy finally burst in 2023

  • After years of record venture investments tied to low interest rates, cheap money has stopped flowing in startup land, leading to high-profile failures.WeWork and Bird declared bankruptcy in 2023, while pandemic plays like Hopin and Clubhouse faded into oblivion.“Prediction: 2024 is the year we finally bury the class of ’21 ZIRP ‘unicorns’ and start talking about a new crop of great companies,” Jeff Richards, a partner at venture firm GGV, wrote in a post on X.
  • Easy Money created more risk than the inexperience entrepreneur.  The plan would to go back for more money when problems erupted.  Then came higher interest rates.  Failures, bankruptcies followed with empty offices and work from home.  Nothing new here!
    • This year, it all unwound. With the Fed lifting its benchmark rate to the highest in 22 years and persistent inflation leading consumers to pull back and businesses to focus on efficiency, the cheap money bubble burst. Venture investors continued retreating from record levels of financing reached in 2021, forcing cash-burning startups to straighten out or go bust. For many companies, there was no workable solution.

    What is left are struggling real estate investment companies formed in 2020-2021 who now find themselves with loans maturing without and viable financially affordable choice.  Real Estate Property Taxes are not paid, negotiating with lenders fail, Notice of Default is the resultant outcome.

It is now time to begin to make the readers aware of the opportunities that exist.

NOTICE OF DEFAULT:  Recorded November 8, 2023 8:27 am, $1,764,469.01

12 unit multifamily apartment complex with 6 rented and 6 remodeling.  Unit has issue with ground water and requires subdrain or drain field installed.  Permits taken are questionable.  Planning department has mandatory occupancy requirements due by January 11, 2024.

Listing price $2,595,000.  Value on current rental Net Operating Income with 5% cap Rate = $2,222,390.00.  Proforma Value at 5% cap rate after improvements + $3,970,680.  (Estimates only).

Interested parties call 650-743-7249, write gary@mckaeproperties.com, text 650-743-7249.

Non-Disclosure Document required of all interested parties and will be provided before full disclosure of any details.


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Comments

  1. riverdancer9December 29, 2023 at 6:24 PM

    Hi Gary - We have zero interest in CA residential properties. Thank you and Happy New Year!

    ReplyDelete
  2. Gary McKaeDecember 30, 2023 at 9:48 AM

    Car Washes?
    They are in pressed situations with debt maturing that need to sell of be unable to pay high rates

    ReplyDelete

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