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If you are a buyer and you are buying an apartment building and you don’t want to overpay, you should follow the same steps the seller went through to determine the listing price of the building. However, as a buyer, you will want to stand in front of the building and see if you can spot something that nobody else has noticed that increases the value of the building. For example, we once sold an apartment building that had clearly been aggressively priced. However, the buyer paid the price and converted the building to a suite hotel. He had a completely different set of metrics that allowed him to win a deal that provided a strong return for his investment. At ROCK, we can help you find the buildings that are in your price range, in the areas you want to invest in, that may not officially be on the market.
Determining the actual value of an apartment building seemed like a difficult task to me, but your guide has made it more accessible. Now, I want to know if you can share more details about this guide with me soon.