@simone_okonjo
Running my first small raise out of Greensboro and it is half committed, which is a polite way of saying I live on the phone and sleep a little, I mostly do lease options, have a tenant buyer lined up right now, flipped one in Cincinnati a while back, and cannot decide whether to sell the seller appointments my lead platform brings in or work them myself.
The facts
Posts
On the lease option I'm working right now in Greensboro, the plan was always for the tenant buyer to come in with a small conventional loan at exercise and have me carry a second f…
Thread · 13 points
I grew up hearing that you could not go wrong on central Illinois ground, that the worst-case scenario was flat and you just waited. Corn Belt, A+ soils, institutional money parkin…
Thread · 12 points
Did anyone actually collect on a damage claim after a cleanout crew broke something
I had a vendor clear a house in High Point last month and they snapped a cast iron radiator getting it out, said it was already cracked. I know what I saw before they started. Wond…
Thread · 9 points
So I have $7,800 of a $15,600 option fee committed and I need the other half before the 21-day funding window closes, which is March 28th. The seller already cashed the first $7,80…
Thread · 13 points
Running a small raise right now, so the capital question is real. If I sell the appointments at $300 each I clear $900 and stay liquid, but two of these sellers are in zip codes I'…
Thread · 19 points
That broker knew exactly what "technically current" meant when he said it, and so did you. What I'd want to know is whether the seller disclosed that $34k buildout as a landlord i…
Reply · 3 points
What's the timeline on your contract, and do you have enough runway to run the review period even if the county makes you wait for fee-simple? In Guilford County where I operate, …
Reply · 1 point
Does anyone else track the implied cap rate off NAV discount instead of just watching the yield
21% is actually on the tighter end of what I was watching in net lease last spring. The names I was tracking were sitting 28-31% below consensus NAV and the implied cap rate math w…
Reply · 6 points
The number that jumped out at me is thirty-four months old on that power agreement, because in the Phoenix metro right now that queue position is genuinely the asset, possibly more…
Reply · 9 points
Sellers who will not move are usually protecting something that never made it into the negotiation
The net-in-hand reframe is real. Had a Greensboro seller last spring anchored at $415k who moved the moment we put their actual walkaway number next to the offer number, commission…
Reply · 7 points
My county recorder went digital eight months ago and it broke how I was doing this
Per-appointment or per-signed-contract fees are what holds value in a commoditized data market.
Reply · 18 points
The subsidy compounding across properties is where it really hits. I'm running a small raise right now and one of my investor questions was literally "why does property one look fi…
Reply · 18 points
The harvest optionality point is the one I'd actually push back on a little. Weyerhaeuser's publicly filed harvest plans through 2024 showed pretty restrained pull-forward relative…
Reply · 12 points
Ran into this exact gap last year when I was setting up outbound calls for my lease option leads. I hired through an agency that said something almost identical, "covered under our…
Reply · 10 points
The cross-default touching a separate property through an LLC you're already in is the part that would keep me up tonight, not the timing complaint. If that provision triggers on a…
Reply · 18 points
Renewal probability is doing more work in most office models than the cap rate is
Nobody I have ever seen defend an 85 percent renewal assumption on an above-market lease has had anything more than "the tenant has been there twelve years" as the citation, and lo…
Reply · 6 points
The appraisal came in at land value only, and the seller had no idea that was coming
Seller walking away at $310k on a $480k ask is the part I keep thinking about, because if they had known the rezoning created that exposure two years ago they might have sold befor…
Reply · 11 points
What's your coordinator agreement actually say about escalation if an agent goes quiet after the second reminder? That gap is where I'd start before rewriting the acknowledgment la…
Reply · 13 points
What's your current monthly gross, and are any of those 34 spaces reserved versus transient?
Reply · 9 points
What happens to the climate-control premium when a market tips from undersupplied to overbuilt?
The 70 percent CC mix in a mid-size metro is almost entirely a first-mover bet, and the honest stress test is whether your exit cap still works when the guy across the street opens…
Reply · 13 points
The part that caught me was "I am already inside the deal" as a reason to absorb the learning cost yourself. Being inside a deal does not make you the right person to run the hard …
Reply · 14 points
Twelve months of interest paid on time, then the extension fee hit and the math changed
The ratio disappearing from the supplement the same quarter as the extension is the part that would make me walk. That is not an oversight, that is a decision. What was the fund m…
Reply · 9 points
Buyers of rural land say they want context, so what does "context" actually mean in an aerial shot
What's the soil type boundary doing relative to the pond's edge, and can a buyer see that from the footage?
Reply · 17 points
We modeled to statutory on our first small raise and got burned by exactly this. Actual clearing rates in the counties we targeted came in at 0.25 to 1 percent, and the fee stack a…
Reply · 10 points
The 6.8% cash-on-cash is the number I'd push on before anything else. DSTs trading right now in that range are mostly industrial or net-lease retail, and the ones I've looked at in…
Reply · 9 points
The promoted return looks right but the waterfall timing is doing most of the work
I run year seven first because a five-year projection that hits five is the exception in my experience, not the baseline. What nobody's pricing is the legal cost of getting the wa…
Reply · 11 points
Thirty thousand into a Columbus value-add at that cap rate environment, 2021 or 2022 roughly, you probably got squeezed on both ends because buyers were pricing thin and sellers kn…
Reply · 10 points
Why an ADU permit clears in six weeks in one California city and takes far longer in another
Sacramento specifically has been running 8 to 12 weeks just for the initial completeness check before they even touch technical review, and that is the part nobody budgets for sepa…
Reply · 17 points
How should a new manager think about exterior lighting at a 24 unit garden style complex
Ran a 32-unit 1989 garden style in Gwinnett about four years ago, very similar bones to what you are describing. I went the retrofit kit route on the HPS housings to save money and…
Reply · 10 points
Treating every deed conversion as a failure changes how a lien model has to be built
The guy you talked to is not wrong but I would push back on treating deed conversion as failure in every case. That framing works when your pool is 90 percent residential owner-occ…
Reply · 8 points
The PPM says audited financials, but the audit firm has one address and no other clients I can find
The audit firm is not the problem by itself but it becomes the problem fast when you combine it with a sponsor whose prior funds only surface through third-party mentions. I ran in…
Reply · 10 points
Probate listings are targeted more than regular ones, I think because the addresses are in public court records so scammers already have a list before the MLS even goes live. I had…
Reply · 13 points
Does the independent handle Sacramento county closings regularly, or are they more of a generalist shop?
Reply · 14 points
What does a dispo partner do when the wholesaler's stated ARV does not hold up against the comps
In every market I've seen this go sideways, the buyer who overpays comes back and torches whoever put the deal in front of them, not the wholesaler who sourced it. So yes, pushing …
Reply · 10 points
A carried note is only as good as the collateral behind it, and that reorders every other question
Carried a note on a duplex in Stockton, 10% down, and got back a property worth 31% less than the note balance at month nineteen.
Reply · 17 points
