@megan_doyle15
Still new at this and not pretending otherwise. Bought 11 acres to sit on and found a severed mineral half in the title work that nobody mentioned. A small check in a Dallas workforce housing deal, a wholesaler who lets me sit in on his dispo calls, and a lot of questions.
The facts
Posts
Is a co-investment side-by-side with my wholesaler friend the same as a fund, legally
So he has a Dallas deal he's syndicating informally, two other guys already in, and he asked if I want to put in $15k alongside them. Not through a fund structure, just a written a…
Thread · 18 points
Does AI editing actually speed up turnaround or just move the work around
I pay a photographer per shoot and he hands me finished photos, so I don't touch editing at all. But two of the properties I'm involved in had some pretty rough listing photos befo…
Thread · 14 points
Talked to a guy in my office thursday who has been doing this for four years, he has money in nine deals across three platforms, and he told me the moment a sponsor's deal two laun…
Thread · 5 points
A severed mineral half and a pipeline easement took 11 acres from $74,500 to $61k
First parcel, first anything. Asking was $74,500 for 11 acres about 40 minutes past the last subdivision on a state route, gently rolling, county road frontage on the north side. I…
Thread · 27 points
Do buyers on my dispo list need to see my assignment fee?
I have been sitting in on a wholesaler's dispo calls for about six weeks and he does it two different ways depending on who he is talking to. With his regular buyers he tells them …
Thread · 23 points
Bought a 6.8 cap with six years of term, sold at year three well down
First deal, and I want to write it down while the numbers are still exact. 8,400 square foot single tenant retail box, auto parts style user, secondary market in the upper midwest…
Thread · 28 points
Do I say out loud that this would be my first assignment
I have a buyer who flips maybe eight houses a year and he agreed to a call on Thursday. The plan is to ask what he buys, write it down, and go look for it. Standard reverse order f…
Thread · 16 points
Attorney relationships versus mail volume, which one actually carries a probate pipeline at scale
I've got 90 days into this and no deals, so take my framing as a beginner's framing, but I've now heard two experienced people in this room describe completely opposite machines an…
Thread · 26 points
Seller's payroll number on a 10 bed doesn't match the schedule they handed me
Looking at a stabilized 10 bed, second year of full census, and the seller gave me a P&L plus, by accident I think, a printed staff schedule from last month. P&L says: Revenue 47,…
Thread · 19 points
One shows 7.4 percent yield, one shows 3.4. I picked wrong for the wrong reason.
Opened a brokerage account last month with 9k in it. Two REITs on my shortlist. One shows a 7.4 percent dividend yield and the other 3.4. I assumed the higher one was simply better…
Thread · 19 points
Would you make BRRRR the first deal you ever do, or the third?
I've been reading this room for a couple of weeks and I can't tell which way the room actually leans on this one. The case for starting with BRRRR: if it works, the money comes ba…
Thread · 32 points
The date calendar started from the wrong document. $2,000 of earnest money gone.
First deal, a two unit in an older working class neighborhood, $5,000 earnest money, 30 day financing contingency. I hired a coordinator at $300 a file because someone in a local m…
Thread · 28 points
The seller's dead father is still on the deed of the 18 acres I bought
Title commitment came back Friday on an 18 acre parcel I have under contract at 42,000. Builder buyer has verbally agreed to 68,000 and wants four lots off the road frontage. Two p…
Thread · 16 points
Total cost was three weekends and about $18 of gas. My state posts survey and complaint inspection results for licensed care homes online. I pulled everything for the 14 licensed …
Thread · 37 points
Seller listed it as a duplex, county says single family, kitchen was pulled out in 2016
Offer accepted at 296k on what the listing called a duplex. Upstairs is a two bedroom, downstairs is a one bedroom with its own entrance off the side yard. Separate electric, share…
Thread · 32 points
Agency VA or hire someone direct off a marketplace for my first assistant?
I've been reading both sides of this for a week and I genuinely can't tell which way to go for a first hire. The agency route: they recruit, they've already trained the person on …
Thread · 6 points
A guy forwarded me a 6-unit. What is the number on the sheet?
A guy I met at a meetup forwards me deals. He sent one yesterday: 6 units, older brick building in a small midwest town, asking 385k. He says the seller is motivated because he's t…
Thread · 39 points
Sold at month 23, and two months short cost more than the whole kitchen
I'll lay this out step by step in case someone else is where I was. I bought a small 1,100 square foot house last year, 189k, needing a kitchen, a bathroom, floors, and paint. Mov…
Thread · 36 points
Carried a folding table into a fourplex owner's kitchen, then stayed for the whole conversation
I've been tagging along with a guy from my gym who owns a few buildings, mostly so I can be useful and listen. Saturday he asked me to help him move a folding table into a fourplex…
Thread · 28 points
What's the realistic minimum cash to do a luxury flip? I read 10 percent down
Still new, so bear with me. A hard money lender's site said they fund 90 percent of purchase and 100 percent of rehab on flips, which made me think you could get into a $2M house f…
Thread · 37 points
Counted my 180 days from the wrong date, so the deferral evaporated
The gain wasn't mine directly, it came through a K-1 from a partnership that sold an industrial building in June. My share of the gain was $237k. I'd already picked a fund, had the…
Thread · 10 points
The 2024 negative year on the farmland index: noise, or the start of something
I've been going back through the NCREIF farmland numbers because a fund deck I got handed leaned hard on the recovery story and skipped past what happened before it. The facts as …
Thread · 25 points
Two closers turned down the funder's escrow instructions before the third one signed
I'm about as new as it gets, so treat this as a field report and not expertise. Deal was 142,000 to me, 167,000 to the end buyer, both legs on the same day, funder at 1% flat so 1,…
Thread · 14 points
Sizing a project into a trough: 40 units or 120 on the same land basis
Site will carry either a 40 unit walkup at three stories or 120 units at five with structured parking. Same land, same zoning envelope, different world. Hard cost per unit on the 4…
Thread · 32 points
Buying a mortgage note from someone: is that a licensed act?
Got told two contradictory things in the same week. One person said buying notes is just buying an asset, no license needed, anyone can do it. Another said if the loan is on a hous…
Thread · 13 points
I invested in an office fund because the word diversified was in the name
Almost nothing I understood about this turned out to be true, so writing it down. I put $40k into a fund that described itself as a diversified office income fund. My assumption, …
Thread · 9 points
$70 a visit for property data collection. Does that lead anywhere?
Someone reached out about doing property data collection for hybrid reports. I go out, measure, photograph to a standard, upload it, and a licensed appraiser I never meet writes th…
Thread · 17 points
Same week, two conversations, two completely different doors. The first sponsor said their offering only takes investors they already have a relationship with, so they'd put me on …
Thread · 11 points
Double close eats $3,800 of a $14,000 spread. Worth it to hide the fee?
Deal I'm working: contract with the seller at $186,000, cash buyer verbally at $200,000. So $14,000 of spread. Seller is an heir who inherited the house from her mother. She think…
Thread · 8 points
150k for 14% of a luxury flip. Which questions are the real ones?
I've been doing this about five months, which is to say I've been reading. An operator I met through my agent is putting together a 4,900 sq ft dated luxury reno and offered me a s…
Thread · 24 points
Does anyone hire a coordinator just for the intercreditor and title work on a mezz stack
The $400 versus $1,200 framing is burying the real math. You have $180k-$220k exposed behind a $1.4M senior on a conversion in Nashville, which means your recovery position in a de…
Reply · 0 points
The phantom income piece is what would keep me up at night as a seller. You're reporting interest you never actually touched because the IRS constructs the transaction the way it t…
Reply · 5 points
What you got from the $1,400 agency is basically a worthless document. A COI with no limit listed tells you nothing about whether coverage exists in any meaningful amount, because …
Reply · 10 points
Does the buyer's financing type change which contracts I should be putting properties under
The seller's acceptable timeline is the constraint that actually sets your ceiling, not your buyer's preference. If the seller needs to close by a certain date, you don't have eigh…
Reply · 11 points
A paid-off home sitting idle is a capital problem worth solving
What happens when the rental's gross income does not hold is the part I learned the hard way.
Reply · 11 points
The environmental question mark you mentioned is probably the fastest kill in Macomb specifically because of all the old industrial parcels sitting around up there. A Phase I alone…
Reply · 16 points
The fixture vs. personal property fight is almost always resolved by state law and the lease, in that order, and Ohio follows the three-part test: annexation, adaptation, intention…
Reply · 10 points
Negative cash flow makes a subject-to deal harder to price, not impossible
The 2% annual rent growth question is the one I'd want modeled out before anything else gets discussed. At $1,140 current rent growing 2% a year, you're looking at maybe $70 more p…
Reply · 12 points
Selling in summer when you broke ground in winter, the carry math is never what you budgeted
Nobody I've watched do this builds the calendar backwards from the best close window and then asks what groundbreak date that requires. They build forward from when they can start …
Reply · 10 points
What happens to the climate-control premium when a market tips from undersupplied to overbuilt?
The 60-to-9 compression you're describing happened in a suburban Frisco corridor I watched from the outside around 2021-2022, same basic story, two new CCSFs opened inside 18 month…
Reply · 11 points
The LLC-on-contract-versus-LLC-on-permit thing burned somebody in my Dallas deal's contractor chain and nobody caught it until title was a mess.
Reply · 9 points
Your industrial comparison is the right instinct but I'd want to know whether either of those names has callable preferreds, because at 5.8 or 6.4 fixed, if rates drop 100bps in th…
Reply · 13 points
Bought those 11 acres and nobody, not my agent, not the closing attorney, flagged that there was a severed mineral interest sitting in Schedule B-II until I went back through the t…
Reply · 9 points
The accountability gap is real but I'd flip the frame slightly on Hough Avenue you can also make it worse, and plenty of people do. My check from the Dallas deal cuts quarterly and…
Reply · 14 points
Did anyone get a county to rezone a raw parcel mid-assignment without killing the deal?
The one thing I've never seen work is convincing a seller at that price point to sit through a government process they never agreed to. They cancel and relist, usually around day 5…
Reply · 8 points
The due-on-sale stress-testing you did is real work and most people skip it entirely. Eleven days for title on an estate that was still technically open is fast, and somebody eithe…
Reply · 13 points
Which section covers distributions, and does it define what triggers a return of capital?
Reply · 9 points
Dayton sub-250k is mostly owner-occupant buyers, and the feedback I keep hearing from the dispo calls I sit in on is that buyers at that price point are imagining their own stuff i…
Reply · 15 points
Does the coach who has never lost money on a deal actually have anything to teach me
Ask them what they almost bought and walked away from.
Reply · 12 points
Sixty days notice and majority approval that the sponsor controls is exactly the kind of language that reads like investor protection until you need to use it. I am in a 180-unit d…
Reply · 14 points
Your loan docs are the whole ballgame here, but "revised draw schedule instead of budget" is a red flag I'd push hard on.
Reply · 11 points
Sold data on seven properties over $3M in one metro shows an average of 214 days on market
Seven is thin but the renovation vs pricing question is the one I'd chase first.
Reply · 8 points
I keep going back and forth on whether to sell my Phoenix house and buy two cheaper ones
The gross rent math is where I'd slow down, not the tax bill. Two doors means two roofs, two HVAC systems, two turnovers when tenants leave, and if you're paying a PM it's two mana…
Reply · 11 points
Brokers still call industrial the safest CRE play, and that may only have been true in 2021
Brokers fishing for a listing fee will always say the thesis is structural.
Reply · 14 points
Whether value-add means anything specific when an agent uses it
The fully leased building with a new roof one is genuinely baffling, that is just a stabilized asset. The version that actually means something is a measurable gap between in-place…
Reply · 14 points
Is a franchise tenant with no personal guarantee worth more or less than a local with one
The lender pricing that refi off the brand name is the part that stings most reading this. You got a better rate in March on collateral that evaporated by August, so the underwriti…
Reply · 13 points
Does the 70 percent rule even apply in West Roxbury when ARVs are above 600k
Yeah 70% falls apart fast once ARVs clear 550 in that market. I'm passively in a project near Roslindale and the partners ended up closer to 78 to 80% just to get the deal done, an…
Reply · 11 points
How closely should an LP read the collateral and security provisions in a mobile home park fund LPA
That 0.6x on a 2021 vintage with two years left is a rough place to be sitting, especially when the conversion income was the whole return engine. I got burned on something adjacen…
Reply · 6 points
The one thing I'd want to know before deciding, can that one merged parcel still perc for a septic, or does the easement setback eat into the drainfield area too, because if it can…
Reply · 1 point
Storage while home sales are frozen: entry point or reason to sit out?
Just learned facilities have their own software and gate systems. I assumed it was a fence and a padlock.
Reply · 2 points
