The tenant, the seller, the closing that went sideways. No lesson required.
I'm trying to understand how private capital actually moves, so a guy who lends short term let me listen to an intake call. Borrower was a flipper buying an assignment, needed to…
A scanned collateral file landed on my desk at eleven at night for a performing note somebody wanted me to take a piece of, and I actually read it. Borrower was fine. Forty-one pa…
A friend is an investor in a mid size apartment deal and forwarded me the link to their quarterly investor webinar, mostly as a joke because I've been asking him a hundred questio…
I've been learning how private money moves and mostly that's meant reading fund documents that put me to sleep. Then a guy I've spotted on bench for two years told me he owns elev…
Small three bedroom, tired but nothing dramatic. I had it locked up and a flipper I'd sold to twice before was taking the assignment. Fee was 9k, which is fine for my market. He w…
We get called into houses right after a wholesaler locks them up, my service team is small, and I sit in more of these kitchens than I ever meant to. Two in the same month. First…
Rural county, house I picked up subject-to eighteen months ago. Purchase was 71k, seller's balance was 58k at 3.5, I paid her 13k for equity in two pieces, half at closing and hal…
Scope creep story, since people keep asking me for one. Upstairs bath had no fan, just a window. Cheap fix, cut in a fan, run four inch flex to a roof cap. My guy opens the ceilin…
Two weeks into all of this and I sat down at a coffee thing where four people were talking about buying notes. I assumed they meant something like a letter of intent. Some kind of…
I want rental income without a second job, so before I put money anywhere I asked a guy from my old office if I could just follow him for a day. He does this full time, four or fi…
He finished a 640 square foot detached unit last year and I've been trying to get a real all-in number out of him for about eight months. First answer was $160k, which is what the…
I hold six raw parcels, all in one county, all bought over about nine years. Two are farmed on a handshake lease, one has a billboard easement, the rest just sit there and cost me…
My neighbor is selling and she knows I read paperwork for fun, so she brought me a stack and a pot of coffee. I told her up front I'm not her attorney and she should have one look…
A family friend at a small ag lender let me listen in on a call as long as I stayed muted, which is about as close as I've gotten to any of this. Citrus orchard, family had it thr…
There's a house two streets over from a friend of mine that went up with nine photos, clearly from a phone, held vertical. One of them has a thumb in the corner. The kitchen shot…
A friend's daughter is renting a house with an option to buy it and she asked me to look at the paperwork, mostly because I'm the person in her life who reads things. Eleven pages…
Spent a weekend building both versions of a $2.4m subordinate slice on a value-add multifamily recap, because the sponsor was genuinely indifferent and asked me which I'd rather h…
I went to a local real estate meetup mostly to figure out what jobs exist in this business that aren't buying houses. Ended up next to a woman eating the free pretzels who said sh…
First rental, small place, nothing exotic. The appraiser flagged the roof, which meant a repair and a reinspection, which meant the roofer's calendar, which was three weeks out in…
My aunt is 78 and finally selling the house she raised four kids in. I got dragged along to the listing appointment because I'm the one in the family who supposedly "knows real es…