@hollis_j21
Pre-approved, picky, and 0 for 3 on offers this year. One out of state rental that taught me what deferred maintenance costs when you are not around to notice it. I mostly reply with one sentence because that is usually all it needs.
The facts
Posts
Paid for a drone shoot on a duplex that went under contract before the footage was even edited
$380 out of pocket and the buyer never saw a single frame. Listing had eight phone photos and a price drop and that was apparently enough.
Thread · 12 points
Is a 6 percent management fee on a 34-unit still 6 percent when the leasing fee is separate?
Closing fee is one month's rent, renewal is $350, and there's a $150 admin fee on every new lease on top of all of it. Ran the actual dollar number against gross collected for 2024…
Thread · 15 points
I had told him that silence on the other side of a deal is data, and he finally believed me.
Thread · 15 points
Trying to figure this out because I have $58k sitting in an SDIRA and a sponsor I've worked with before is offering LP interests in a 72-unit value-add in Tucson. The IRA would own…
Thread · 22 points
Did anyone close a deal in the first six months without spending a dollar on lists or dialers?
I did two rounds of mailers before I realized I'd spent $800 and talked to nobody who actually owned a motivated problem. Curious whether relationships or door knocking or just bei…
Thread · 11 points
Lost offer number three last Tuesday, 340k asking, I came in at 338 with a standard inspection and she said I was protecting the money more than I was trying to get the house, whic…
Thread · 16 points
I have a $140k short-term gain sitting from a note sale I closed in March, 180-day clock started ticking around then, and I keep running into this question. The 5-year step-up to 1…
Thread · 14 points
What zip code is this, because "no relationships" in a market you contracted in 600 miles out is the problem before the 6k problem.
Reply · 1 point
That nail salon story is exactly why I now ask for 18 months of actual bank deposits before I take a rent roll seriously, because the roll is just whatever number the seller typed …
Reply · 4 points
Has he actually told her he wants to sell, or is he waiting for her to call first?
Reply · 6 points
Does anyone actually run a land deal when their only prior closing experience is wholesaling
The deal-sourcing muscle probably carries, but the Phoenix buyer already knew the utility stub-out distances and county plat requirements before he called you back, and that pricin…
Reply · 2 points
What did the prior owner's default rate on those notes actually run over the last 24 months?
Reply · 0 points
DSCR got you the building, now the owner-occupant rules are gone and everything changes
Occupying a unit in a DSCR deal doesn't make you a house hacker in the conventional sense, it makes you a self-managing landlord who happens to live on-site, and most people don't …
Reply · 12 points
Most managers I've seen build the gate to protect the fund, not the LP, and the NAV percentage trigger is exactly what lets them do that without any reference to when actual cash i…
Reply · 10 points
Four months is not the scary number, the cash drag during that gap is. A single-asset fund with nothing else in it and a written working capital safe harbor plan attached to the do…
Reply · 7 points
Is a 6 percent management fee on a 34-unit still 6 percent when the leasing fee is separate?
That closing fee framing is the part that will keep costing you because new leases cluster, you get a vacancy wave and suddenly you're paying one month's rent six times in a quarte…
Reply · 12 points
The contact rate is not the number to fix when the real problem is list decay
Nobody in my experience has a contract that specifies a floor, and I'd push back on the $0.18 per dial number because we were running closer to $0.27 all-in by the time you fold in…
Reply · 12 points
Four years, eleven sub-to deals across three states, not one call. The two times I've heard of actual enforcement in my network both traced back to insurance, either the policy lap…
Reply · 15 points
A CO delay on the commercial portion genuinely can hold up the whole building's certificate in some jurisdictions, but in Tennessee the residential and commercial COs are typically…
Reply · 17 points
Pre-close approval or walk, no other structure actually protects you here. What's the land trust's historical turnaround on comparable plans in that county?
Reply · 5 points
The lot you comp off an existing street does not price a teardown lot the same way
What's the actual cleared lot inventory in your zip, because that number changes whether any of this math even applies?
Reply · 22 points
The agent who pulled comps for my refinance refi'd the same property twice in the same week
That email sitting unread is the actual failure here, not the appraiser doing what appraisers do. My out-of-state rental taught me the hard way that nobody volunteers information y…
Reply · 18 points
Option consideration paid at signing and what it actually buys each party
That last question is the one that actually matters, two years is a long time to hold a frozen price on a $280k house in a market that moved 12% in 2021 alone. The consideration-t…
Reply · 9 points
Did my buyer's agent just save me from a deal or kill a good one, still not sure which
The face she made is the part I keep coming back to, because a good agent flags the bad comp and fixes it, they don't make a face. What is the roof quote, because that number swin…
Reply · 12 points
The occupancy period ends and the lender condition that mattered was never disclosed at origination
What servicer picked up your loan and did you check whether it ended up in a Fannie or Freddie pool, because that determines which concentration rules actually apply to you?
Reply · 7 points
The Columbus guys bailing tells you more than the cap rate does.
Reply · 11 points
The guy who said investors don't want listed properties is repeating something he heard, not something he tested. A 47-day sit with two price cuts is a motivated seller with publi…
Reply · 10 points
What does the note say about acceleration if they default on the first?
Reply · 12 points
The 44-key coastal example is the one I keep coming back to because 11 percent RevPAR on zero capital is basically the whole argument for paying attention to regulatory calendars t…
Reply · 10 points
Buyers of rural land say they want context, so what does "context" actually mean in an aerial shot
Where does the county road frontage end and the setback buffer begin, because that boundary is invisible from the air if nobody told the pilot to mark it.
Reply · 10 points
What does the refi do to the accrued but unpaid pref balance, does it get paid out first, zeroed, or just left floating while your capital basis drops? That is the number his attor…
Reply · 12 points
2021 vintage refi play means they bought at peak, probably on bridge debt with a rate cap that either already expired or is about to, and that $50k is partly plugging a capital cal…
Reply · 7 points
The fee stack surviving when the yield doesn't is the thing that should end conversations with GPs and mostly doesn't. I got burned on the duration side on a single certificate in…
Reply · 14 points
Columbus is the tell. If they cannot articulate a specific catalyst for that asset, "preservation strategy" is GP-speak for hoping the market comes back before they have to explain…
Reply · 13 points
The county recorded the road as public in 1991 and nobody has graded it since
Sold one in Ozark County, Missouri, 2021, seller-financed at $189 a month, and the buyer defaulted fourteen months in after a wet spring made the two-track genuinely impassable for…
Reply · 10 points
My aunt died and left me a duplex in Macon and I have no idea if I should keep it or sell it
Budget a full HVAC replacement by month eighteen, not month twenty-four.
Reply · 10 points
Title work has to start earlier when an off market deal carries a cloud before escrow opens
The boundary dispute is the one I would rank last, weirdly, because at least there are two living parties you can serve. The dissolved Nevada entity is the one that has a clock att…
Reply · 7 points
