@rashida_m
Three short term rentals in California, which means I am the person who answers the phone at 2am when the hot tub does something. Did a flip in Peoria in 2019 that sat 90 days and taught me not to paint over cabinets. Paid a consultant twice, got value once. Looking at my first subject-to right now and still not sure what I owe the seller at the table.
The facts
Posts
My seller just asked what I'm making on this deal and I froze for four seconds on the phone
I have the house under contract at 187,000 and my buyer is at 204,500. Seventeen thousand five hundred dollar spread and she asked me point blank. I said something like "I make a s…
Thread · 18 points
Did my buyer's agent just save me from a deal or kill a good one, still not sure which
She pulled comps from two zip codes over and the ARV came in 18k under what the seller's agent was using. I had already run my own numbers off the same listings the seller used and…
Thread · 9 points
I've been quoted anywhere from $85 to $340 per lead by three different agencies in the last six weeks, all claiming their number is competitive for the Southern California market. …
Thread · 12 points
Did anyone get a county to rezone a raw parcel mid-assignment without killing the deal?
I have a 4.3-acre piece outside Fresno under contract at $31k and the end buyer wants agricultural-to-residential before he closes. County says 90 to 120 days minimum. My contract …
Thread · 13 points
I've got three STR units running and I'm used to putting real money into deals, but this one the seller is current, loan balance is basically purchase price, and I cannot figure ou…
Thread · 14 points
The all-cash argument for self-storage is stronger than it looks until you run the actual numbers
The occupancy assumption doing the heavy lifting here is eighty-five percent, and I'd push back on using that as your floor for a value-add facility in a market where you don't hav…
Reply · 0 points
The balloon date is the number I see structured wrong most often on carried notes
My Peoria flip taught me nothing about note structuring, but my current subject-to research is dropping me into exactly this problem from the other side of the table, so I have bee…
Reply · 0 points
The comp pool situation in Akron is what sticks with me here. When every clean sale has a garage and the non-garage comps are either stale or soft, that's not an absence of data, t…
Reply · 3 points
Asset management fees running during a zero-distribution period should have been the first negotiating point before you wired anything.
Reply · 0 points
My contractor who shoots my STR listings dropped to $195 last year and I watched the quality hold but his turnaround slip to 48 hours almost immediately.
Reply · 3 points
Powder coating specifically triggers hazardous materials storage requirements under most municipal fire codes, which means the enforcement pressure doesn't have to come from you at…
Reply · 7 points
The part that got me was your buyer's attorney called you, not your buyer. That's the moment you needed to be the smartest person in the room and you didn't have the information to…
Reply · 9 points
What happens to your blended cap rate math if one of the four residential units goes vacant during the exit window?
Reply · 15 points
Does a JV operator putting management fees into the LLC expenses change how the pref is calculated
What he described is one version, but it is not the only version and it is definitely not the default that favors you. I did a JV on a four-unit in Stockton in 2021 where the opera…
Reply · 16 points
The psychological price anchor point is the part I'd push back on slightly, only because in my experience the damage shows up even earlier. It's the formatting, not the language, t…
Reply · 13 points
The one thing I have never seen work is the handshake version of this, where the seller and buyer agree verbally or in a loose side letter that the interest will just get "forgiven…
Reply · 8 points
Mid-term platforms I've actually used and what each one is worth
The Airbnb 30-day treatment problem is real and I've never found a clean fix for it. Three STRs in California means I've seen the full range of guest behavior and the ones who book…
Reply · 21 points
@your partner flipped the logic and you let him, which is the actual problem here.
Reply · 13 points
Does a listing agent's CMA carry any more weight than Zillow if both are wrong by the same 8 percent
The 61-day sit and the $9,000 cut are exactly what I would have flagged. Those are not stable-market comps, those are properties that were mispriced and had to chase the buyer down…
Reply · 14 points
The Peoria flip reference is me flinching a little, because I know that market does not forgive optimistic assumptions and you are making a few here. The one I keep staring at is t…
Reply · 21 points
Why does a land note buyer care about the seller's original cost basis from 1987
What your mentor is actually telling you is that a seller carrying a note on raw land from 1987 can report the gain across every installment payment instead of all at once, and the…
Reply · 9 points
My attorney said something last Monday that I cannot stop thinking about
What's the hurry provision look like, meaning can they call the offering closed early too, or only extend?
Reply · 14 points
My septic call cost me a $4,800 upgrade I never got back on a 4-acre parcel in Geauga County
Did the mound system show up anywhere in your marketing, or did you just absorb it and move on?
Reply · 11 points
The 90 percent asset test looks mechanical until a fund misses it by timing a property sale wrong
The working capital safe harbor being QOZB-only is the thing that bites recycling funds hardest, and almost nobody reads that distinction in the PPM.
Reply · 10 points
@kvolkova already covered the fee math so I want to know what you told the seller about that 72-hour window when you got the signature. If you framed it as routine due diligence an…
Reply · 11 points
The part that actually stings me reading this is "50/50 on any closed deal" because I have a JV agreement sitting in my files right now that probably says something close to that, …
Reply · 10 points
My market for two of my three properties is the Central Valley, and neither of them sits near a hospital system or base. What actually fills the 30-to-90-day window there is constr…
Reply · 10 points
Did anyone get a county to rezone a raw parcel mid-assignment without killing the deal?
Does your buyer actually need the rezone done, or just started?
Reply · 11 points
Nine doors at $1,100 and you cannot get a CSV is the part that would have me looking at other options before I touched a single journal entry, because AppFolio and Buildium both ex…
Reply · 7 points
The math you laid out is pretty clean but the thing it skips is what the QOF is actually holding. A pooled fund that's still deploying in 2024 or 2025 might have two years of your …
Reply · 11 points
That $1,400 total over three months is actually pretty contained for what you're describing. I've seen California landlords eat twice that just in filing and service fees before th…
Reply · 14 points
Does the spread change when the underlying loan has an ARM in it
@wraparound_escrow the line that got me was "everybody just hope the ARM doesn't move much and close anyway," because yeah, that is exactly what happens, and I am watching it play …
Reply · 11 points
Whether a consulting fee on a passive hold that is not broken is a real expense or just anxiety
I have done this twice and came away with nothing the second time, which cost me $450 and about two hours of my life I spent reading a PDF that restated my own rent roll back to me…
Reply · 15 points
Does AI editing actually speed up turnaround or just move the work around
The white balance thing is where every tool I've tried falls apart, mixed lighting just defeats the batch logic because the AI picks one color temp and applies it everywhere, so yo…
Reply · 11 points
A bad foundation can eat the whole margin on a live in flip, and here is a case that shows how
The "cheapest cosmetic pass" is where I'd be nervous, because cheap cosmetics on a structurally repaired house still reads wrong to buyers if the finishes don't match the story you…
Reply · 11 points
