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kleinbl00 · 2512 days ago · link · · parent · post: Homelessness up 26% in LA YoY, 10% in Seattle , *61%* among LA youth
I was looking at apartment buildings in '08. Friend of mine owns 5 units and it works out nicely for him. The GRM (Gross Rent Multiplier - literally the purchase price to the rental income) back then was like 6,7. It's 14-18 now. I checked out a big ol' $6m apartment complex yesterday; for that $6m investment your net income is $240k a year. In order to break even on that $6m building you need to make a $5m downpayment. So the people who are investing in that market right now are the ones that have $5m or more in cash.