I have a pocket listing that I have been working with a broker. I have run the numbers and looks like we’re close to agreement at a 12% CAP for a 50 space park in Texas. This is based on detailed 12 month rent roll and operating statement, also I also manually inputted increases in property taxes, 5% management, etc based on the sales price.
I don’t have the free cash to finance it, but think I could still make a little by bird dogging this for an assignment fee.
What are some strategies and terms people have used to assign contracts? What is the typical timing (e.g. how early or late in the feasibility period)?