well, you can still get good deals if you research the deal well. I have just recently closed an 100% occupied medical office deal in Houston that was at an 7.8% cap, and my client got 6.3% financing. NNN leases with a lot of years still on them. good location. my client is now enjoying a 9.2% return on their money. because of the lease bumps, the value will contiunue to grow.

a client of mine just went under contract to buy a self storage in Greenville, TX. He is putting down 30%, and if all the numbers prove out during due diligence, will end up making almost 12% return on equity, and even some upside in rents.

still lots of good product out there (medical office, self storage, even some hospitality) located in the west and intermountain region (SLC, DEN, BOI). Left and right coastal areas are more often over-priced.

financing has grown a bit tougher because of the sub prime issues, but there's still good rates (6.5% recent quote) for loans over $1M. insurance companies have picked up where the conduit lenders have left off.