“If I’m going to invest 100 grand and I think I’m going to make 2,000 back in Year 5, which include my 100,000 but most of that return comes from the sale of the property, you really have to pay attention,” said Bickelhaupt.
“There will be 15 offers on a property, they’ll go into Best and Final. You’re negotiating against yourself, you’re raising your price even more against a number you don’t even know. Then you’re hoping you’re awarded to property. It’s a wild model, but it’s the way it is right now.”