Pushing Dirt

National Real Estate Investor cites a LaSalle study which sees four key opportunity plays for investors in 2009:

1. Cheap REIT shares
2. Cheap units in limited partnership interests
3. Pools of non-performing or partially performing loans, and
4. Defaulted land deals or development deals needing to be recapitalized.

I’d add to the list just about any sort of REO property with significant vacancy, most retail product (retail is significantly out of favor right now), and CMBS debt.

You can check out the article here.

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Despite talk of a market slowdown, there’s clearly still many more buyers of investment property than sellers out there — at least for commercial property.

I get at 5 to 10 calls a week from investors looking to buy.

When I find the “deal of the lifetime,” who do I call?

Obviously someone who has cultivated a relationship with me.

Also, someone who has clearly stated their investment criteria to me.

Investor who call and say, “I’ll look at anything that makes sense” or “show me everything you’ve got” don’t rise to the forefront of my mind when I’m quietly marketing an exciting investment opportunity.

The investor who spells out this criteria garners instant credibility and more attention for me. What do I mean? Tell me :

-the product type/s that interest you (e.g. office, industrial, retail, multifamily, flex, self storage, residential land)

-tolerance for risk and vacancy

-yield expectations

-minimum and maximum deal size

-what you own or have owned

Do your self a favor and think this through. You’ll see more deals from brokers and buy more buildings.