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Chasing high yields that never materialize because of unrealistic underwriting is a recipe for major disappointment. The most money in Real Estate is made buying quality assets at the beginning of cycles. Currently, we’re facing an environment where inexperienced operators paid too much for properties with too much leverage, floating rate debt, and unrealistic assumptions. As a result, there will be some form of distress in almost all asset classes. Peter Lewis, Chairman and Founder of Wharton Equity Partners, has 35 years of experience as a real estate owner, developer, and operator. Peter has survived several cycles and predicts great buying opportunities over the next couple years.
