Next time, maybe you should consult with a Counselor of Real Estate (“CRE”) before getting into such deals. CRE’s are some of the most qualified real estate advisors in the world and they can advise you on problems such as these- before you buy and lose your equity.
I can't say I've ever heard of one before, and I've never had an LP mention using one over the past 7-8 years. Are there any licenses involved for someone to be designated a CRE?
Chris - great article. Not sure that some guy with that designation would’ve helped investors circumvent these challenges that we are all facing. Even big companies like Blackstone and Starwood etc have had to deal with forclosures due to high interest rates.
I would tend to agree, but I don’t know anything about the designation. The only potential thing I could see someone catching is look at insurance numbers, tax reassessments, rent growth assumptions, vacancy assumptions, understanding the capital stack and how highly levered it was (this one especially), etc. I would be shocked if anyone would’ve called problems with interest rates and rent stagnating.
Next time, maybe you should consult with a Counselor of Real Estate (“CRE”) before getting into such deals. CRE’s are some of the most qualified real estate advisors in the world and they can advise you on problems such as these- before you buy and lose your equity.
I can't say I've ever heard of one before, and I've never had an LP mention using one over the past 7-8 years. Are there any licenses involved for someone to be designated a CRE?
Chris - great article. Not sure that some guy with that designation would’ve helped investors circumvent these challenges that we are all facing. Even big companies like Blackstone and Starwood etc have had to deal with forclosures due to high interest rates.
I would tend to agree, but I don’t know anything about the designation. The only potential thing I could see someone catching is look at insurance numbers, tax reassessments, rent growth assumptions, vacancy assumptions, understanding the capital stack and how highly levered it was (this one especially), etc. I would be shocked if anyone would’ve called problems with interest rates and rent stagnating.