@marcelo_reis
One six bedroom rental in a mid size Ohio city, rents about 3,400 a month when it is full, and no plans to get clever with it. I spent years doing vendor work for the big platform operators and that cured me of drama for good.
The facts
Posts
My debt fund sent back principal faster than I expected and now I have to decide what to do with it
My accountant said something on Tuesday that I cannot shake. He looked at the redemption amount, which was $42,000, and said "most people spend this on something that feels like a …
Thread · 9 points
He was looking at a 38 site park I passed along to him just to get a second set of eyes, nothing I was seriously pursuing. Revenue was around 210k gross, almost all of it June thro…
Thread · 20 points
I have 34 spaces in a comparable situation and I've been running it as one number, but I wonder if breaking it down by individual space would surface anything useful, like which ro…
Thread · 12 points
Asking because I've seen two different structures on deals in my market and they're not the same thing even though people use the same language. One arrangement I looked at had the…
Thread · 10 points
Asking about seller financing on every deal versus reading the situation first
@ayesha_qureshi the line about the financing and pricing conversation being the same conversation once you frame it right, I think that framing works when you already have some war…
Reply · 0 points
Does a servicer change mid-deal actually put the loan at risk on a subject-to
Closed one in Columbus about two years back where the transfer happened eleven days before we signed. New servicer was a small shop out of Kentucky, similar profile to what you're …
Reply · 0 points
The balloon date is the number I see structured wrong most often on carried notes
What's the borrower's debt-to-income look like today versus when they signed?
Reply · 0 points
Dayton wholesale data is hard to argue with when the guy has skin in the deal flow, so I would not dismiss the 11 days. What I would push on is whether that DOM compression is happ…
Reply · 0 points
Can a re-performing note command the same exit pricing as one that never defaulted
Twelve months of clean post-cure payments moved my buyer's pricing from 68 cents to 74 cents on a Columbus Ohio note last year.
Reply · 0 points
What county, because Ohio varies wildly even parcel to parcel across township lines.
Reply · 0 points
DSCR got you the building, now the owner-occupant rules are gone and everything changes
Twelve percent vacancy on one unit in that fourplex wipes the $400 entirely. What was the actual appraised DSCR ratio at close, not the lender's pitch deck number?
Reply · 4 points
My six-bedroom has had two bad move-outs in eight years, nothing close to hoarding, but I spent long enough in vendor management to watch this exact problem eat margins on the oper…
Reply · 2 points
Your framing on when versus how much is the part that actually changed how I looked at my own passive positions. I had money in a debt fund that gated in 2022, and the underlying p…
Reply · 3 points
The operator disclosed the lawsuit on day 31 of a 30-day rep period and called it timely
The operator making a unilateral materiality call on a claim that named the operating entity directly and cleared the dollar threshold by 3.6x is not a judgment call, it's a cover.…
Reply · 2 points
Paid for a drone shoot on a duplex that went under contract before the footage was even edited
Drone footage is one of those line items that helps the listing, not the deal. If the deal was already going to happen at a lower number with phone photos, the $380 changed nothing…
Reply · 7 points
If tenant-funded, the next buyer walks in with zero obligation and real optionality. Was there a restoration clause, or did that get traded away at signing?
Reply · 7 points
My contract had a line that said "agency is not responsible for staff conduct post-placement" and I signed it without flagging it.
Reply · 4 points
My debt fund sent back principal faster than I expected and now I have to decide what to do with it
Your accountant's line about a "treat" is doing more work than he probably intended. What's the weighted average LTV on that bridge book right now?
Reply · 5 points
My county recorder went digital eight months ago and it broke how I was doing this
Your investor framing it as a fact rather than a complaint is the part I'd pay attention to. That's him telling you the address is already a commodity in his pipeline, not a lead a…
Reply · 4 points
What I found on page nine of the bridge commitment that the borrower had already signed
That late-April CO detail is the part that would have buried me, because nobody models the gap between final draw and CO as a variable. They treat CO as basically contemporaneous w…
Reply · 11 points
A paid-off home sitting idle is a capital problem worth solving
That last question is the one that actually matters and most people skip straight past it because the pro forma always assumes stabilized occupancy. The part nobody prices in unti…
Reply · 20 points
Borrower equity versus lender equity in a gap piece, and where the split should sit
12 percent junior with no floor guarantee is a coupon bond pretending to be a risk position.
Reply · 21 points
@marcelo_reis isn't in this thread yet so I'll just say what I've seen from the outside of these deals. The line that got me was "the fee just delayed discovering it." That's exac…
Reply · 5 points
I booked the Isleta rehab costs into the wrong year and my depreciation basis is now wrong
What method did your bookkeeper use for the whole file, cash or accrual?
Reply · 10 points
Why does the same house rent for $400 more six blocks north and I cannot figure out what changed
Riverside has some genuinely weird micro-geography for a city that size, and six blocks can mean crossing an invisible line that every local renter knows and no assessor ever draws…
Reply · 10 points
The $1,100 is small enough that nobody sues, which is exactly why agents keep letting it happen.
Reply · 14 points
My fund used 6.8 percent on the year-ten exit and the stress scenario was basically a flat market, which at the time felt conservative and in retrospect was still too optimistic be…
Reply · 15 points
@OP the relocation firm angle is real but I think you're still underselling how fragmented it is. In Dayton, which I know reasonably well, the same company might use three differen…
Reply · 16 points
A VA who runs transaction coordination earns out faster if they own the checklist, not just the task
Losing the escrow rep's cell when a VA quits is a $400k problem, not a process footnote.
Reply · 17 points
What's your spread look like on the A-to-B versus what you think transactional funding is going to run, ballpark? Because if the spread is wide enough, say 15k or more, most exper…
Reply · 14 points
My agreement has one line about "seller cooperation with marketing recommendations" and I have watched that language do exactly nothing in a dispute. The seller reads cooperation a…
Reply · 10 points
What threshold did they define for retaining cash, like a minimum reserve balance, a per-unit dollar amount, anything written down? Because if the answer is nothing, "when cash fl…
Reply · 11 points
Has anyone here actually bought rural land in Spain and run the numbers on agricultural income?
Olive ground in that region was leasing for 80 to 120 euros per hectare per year the last time I looked seriously at it, around 2021, and cereal was worse, sometimes 40 to 60. At 3…
Reply · 12 points
The duration mismatch you're describing at the end is the part I'd push on harder. A 0.25 percent certificate that runs two years and redeems is annoying, but a fund that hits 15 p…
Reply · 13 points
