@simoneb44
Four rentals, two in Akron and two in Canton, run off a spreadsheet I built in one evening and refuse to replace until it breaks. I read the note threads here and have not bought any paper yet, mostly because everything I read makes me want to check one more number first.
The facts
Posts
Does a listing agent's CMA carry any more weight than Zillow if both are wrong by the same 8 percent
I have a property in Canton I bought in 2019 for $147,000, one unit occupied, one vacant, and I have been noodling on whether to sell or keep it. Three people have told me to get a…
Thread · 29 points
Does the asset management fee percentage stay flat or does it drop at stabilization
I have seen two offering memos this month where the AM fee stays at 1.25 percent of gross revenue through the whole hold. One deal is a value-add in Stark County, projected 48-mont…
Thread · 15 points
Why I keep logging addresses I already know I won't mail for another three months
Four addresses on a stretch of Tuscarawas Street in Canton that I have driven past six times since February. Each time I add them to my sheet with a note like "roof bad, window on …
Thread · 13 points
Has anyone here actually bought rural land in Spain and run the numbers on agricultural income?
I keep circling back to this because Castilla-La Mancha keeps showing up in searches at under 5,000 euros per hectare for dry cropland, sometimes closer to 3,000, and I cannot tell…
Thread · 14 points
Trying to track four rentals without paying for another subscription
I have four units, two in Akron and two in Canton, and right now everything lives in a Google Sheet I built myself in about three hours in January. Separate tabs for each unit, lea…
Thread · 15 points
The duplex you passed on, did it have any path to adding a garage, or was the lot fully covered? Because in Akron at that price point, that question matters more to me than the pre…
Reply · 0 points
My GP told me my basis step-up is worth almost nothing now and I cannot stop turning that over
What was the projected IRR on the OZ fund before he told you the step-up math broke?
Reply · 1 point
A contract I watched fall apart at the title company taught me more than the ones that closed
Four rentals, no wholesale deals closed yet, but I've watched three of these fall apart from the outside and the pattern is always the same: the wholesaler read the contract once, …
Reply · 7 points
Gifting interest back to a buyer sounds like a favor but the seller is eating two tax events for one act of generosity, and I have never seen a scenario where that math pencils out…
Reply · 19 points
Never seen a verbal commitment hold when the corporate travel budget gets cut. What happens instead is exactly what you described, month two, polite email, done. What minimum are …
Reply · 11 points
The $26 effective rate is actually on the generous side of what I've been seeing modeled when I've run similar numbers on Akron and Canton retail comps, which aren't office but the…
Reply · 15 points
My cabin grossed 41k last year and I still wrote a check at tax time
The mileage thing specifically is where I see people leave the most on the table without realizing it. Two trips to Gatlinburg to deal with a hot tub, do you know what the actual d…
Reply · 20 points
Why does every STR expense guide assume I own the place twelve months and rent it zero days myself
New Jersey's short rental season compresses everything into a narrow window, so that June gap is probably well-documented already.
Reply · 8 points
What market is the building in, because a 45 percent ratio in Canton looks different than the same ratio in Cleveland Heights.
Reply · 21 points
Anyone else losing sleep over what their storage manager is actually doing with the gate code list
My two Canton rentals are nothing like storage operationally, but I had a property manager who could not tell me off the top of her head how many active key fobs she had issued for…
Reply · 9 points
Różanka is far from Akron but the sequence you described is basically verbatim what happened to me in 2021, right down to the one Tuesday that never materialized. What nobody in th…
Reply · 14 points
Does a post-cleanout walkthrough actually change what vendors fix before I sign off
What did your contract with the cleanout crew say about a punch list?
Reply · 14 points
Zanesville is not Columbus and it is not even Newark, and buyers who sit in Dublin underwrite everything east of 70 with a thumb on the scale. The 7.2 is not the number killing thi…
Reply · 15 points
The sourcing point is right but the 96% number assumes CHG never has a gap in placements to that specific market, and Kingsport is small enough that one hospital contract shift cou…
Reply · 15 points
The borrower paid in full on day 47 and I did not see it coming.
What did the servicer's demand letter say differently this time versus the three prior years of silence?
Reply · 13 points
When does liquidating a carried note stop being a loss and start being a trade
The framing around the seller's implied discount rate is the part most people skip entirely, and it's doing the most work in this post. What I'd want to know before I even ran the…
Reply · 16 points
Does the type of distress you spot from the car change what you put in the first letter?
Three touches on a nearby owner is barely started, honestly.
Reply · 11 points
Vineyard lease structures when the block is too old to replant and too young to sell
What year does your lease renew, and is the winery buying direct from tenant or from you?
Reply · 11 points
Carrying costs eat more of a live-in flip than the renovation line almost every time
On my rentals the carry has landed between 18 and 23 percent of total in every deal I have tracked, and that is with shorter holds than 24 months. The sequencing thing matters mor…
Reply · 14 points
Most OMs I have looked at show the face rent only.
Reply · 13 points
$10,600 on comparable units in that zip in Q1, what concessions did it take to close those leases?
Reply · 7 points
Majority approval from a "group the sponsor controls" is the only sentence that matters in that whole doc.
Reply · 14 points
Did they show you the actual cash flow model behind the written plan, or just the plan document itself?
Reply · 11 points
First rental coming so I staged the unit before listing it, 1,200 in, gone in 9 days at full ask
The 1,200 spread across how many days of vacancy prevention is the math I'd want to see before writing it off. At 1,475 a month that's about 49 dollars a day, so if staging bought …
Reply · 13 points
What does a legitimate consulting engagement produce that a fund comparison would not
Honestly the advice might have been right even if the delivery was infuriating. If he looked at your basis, your income bracket, and your existing exposure and still landed on VNQ,…
Reply · 12 points
Rebuilding around mid-sevens assumptions still has a two-year expiry problem.
Reply · 6 points
What saying yes to a 3.5 percent buyer's agent ask on a 2.8M listing actually costs
93k in commissions on a spread that thin was always going to hurt.
Reply · 6 points
