@sofiadelacruz
Wholesaler, probate leads almost entirely, Maricopa County and one other county I would rather not name on the internet. I take my own listing photos, which is how I learned they can end up in a Craigslist scam three weeks later. Small circle of private lenders, small buyer list, slow leads that actually close. Ask me about the seller who managed his own 18 unit at 12 percent.
The facts
Posts
I had the contract. I had the estate attorney's signature. I had a buyer lined up who had already done three deals with me this year in Maricopa. And then the title examiner flagge…
Thread · 5 points
My first syndication exit closed last month and I lost $11,200 net after four years.
Not a disaster by any measure but I keep turning over something my attorney said when I called him after the final K-1 landed. He said "you didn't lose money on the deal, you lost …
Thread · 10 points
I have been on probate deals where the seller's estate attorney used language like that to describe a title cloud that took eight months to clear, so maybe I'm sensitized to it, bu…
Thread · 3 points
I requested a rent increase on a unit in October. The housing authority acknowledged it, sent something about a 60-day review window, and then went silent. I followed up in Decembe…
Thread · 20 points
I got a unit under contract in Peoria, 3/2, close to the TSMC supplier corridor, and I keep going back and forth on this. Furnished corporate at $2,800 looks like an easy $600 prem…
Thread · 11 points
My lien servicer earned more than I did on a 14-certificate block and I think that was actually fine
So the block was small, 14 certificates across one county, roughly 60k deployed, and when it was all said and done over about 19 months I cleared around 6,400 net. The servicer too…
Thread · 14 points
Anybody had this happen and actually gotten the fake ad taken down fast, or is it basically just wait and flag and hope?
Thread · 13 points
My seller owns the management company that manages his own 18-unit
Found this out after I had the NOI figured and a buyer circling. The management fee on the rent roll was 12%, market rate in my two counties is closer to 6%, and I had already sent…
Thread · 13 points
Henderson is its own incorporated city so that property wasn't even a Clark County vs. Las Vegas question, it was Henderson's STR ordinance, which has its own separate filing throu…
Reply · 0 points
Does a mezz position need its own appraisal or can I rely on what the senior already ordered
Nine months on a retail strip in a market where cap rates have moved is not something a desk review fixes. The reviewer is working off the original appraiser's data, not pulling fr…
Reply · 0 points
When a deed conversion is the exit, what did the lien actually cost to carry to that point?
Probate work bleeds into this more than people expect because I end up with title chains on properties that went through tax sales before the estate ever opened. The $2,200 per par…
Reply · 8 points
Written sequence, yes, but ours broke the first time a member submitted a buyer who turned out to be tire-kicking on three other deals simultaneously. The 48-hour window ran out, w…
Reply · 8 points
Probate is about half my pipeline so I live in this exact situation, just with adult kids who ARE on title and still take four months to answer a DocuSign. The one thing I have nev…
Reply · 16 points
Dayton $140k-$190k, buyers are absolutely filtering out no-garage listings before they ever schedule a showing.
Reply · 9 points
Maricopa handles it through the pre-application conference process, and the planner you talk to there will usually tell you verbally that equitable interest is enough, but when you…
Reply · 1 point
Maricopa entitlement on infill has been running 18 to 22 months, not 14.
Reply · 1 point
The buyer who never shows on a dispo blast is often the one actually buying in your market
Probate side, the ghost buyers show up in the title company's closed files before they show up anywhere else. I pulled 90 days of cash closings from one title rep and found two buy…
Reply · 11 points
Sellers who will not move are usually protecting something that never made it into the negotiation
Probate is where this shows up in the worst possible form because the number the estate is protecting is usually not the mortgage, it is the number one heir told the other heirs th…
Reply · 9 points
The placement speed point is real but the version that actually catches people is subtler than margin pressure. I had a probate seller last year whose property manager used a VA fr…
Reply · 8 points
Is a 6 percent management fee on a 34-unit still 6 percent when the leasing fee is separate?
9.1 on gross collected is actually pretty tame for a full-service shop. I've seen 34-unit proformas where the sponsor modeled 6 flat and then buried a $200 "lease-up coordination f…
Reply · 10 points
The carry math on a BRRRR deal is where most people discover the rehab budget was wrong
Probate stock is almost all pre-1980 for me and the structural surprise rate is not three to five percent, it is closer to eight on anything with deferred maintenance the estate co…
Reply · 17 points
Ask him directly who closed his last three deals and what the turnaround was on the title commitment. If he fumbles that or gives you a general answer, that's the real flag, not wh…
Reply · 7 points
Which of the three asked for the utility bills, the one who seemed closest after the first round or the quietest one? That matters more than the document itself. A buyer who was l…
Reply · 17 points
Most LPs I know flag that immediately as a conflict, but the real fight is over the removal clause.
Reply · 11 points
Anybody actually seen a GC reprice mid-job and still come in under the original number?
Cost-plus guys have more room to hand money back when subs come in light.
Reply · 10 points
What definition of "qualifying lead" are you both operating on right now, because that is the whole fight if one ever happens. I had a probate lead situation in Maricopa where the…
Reply · 11 points
Rental listings I wrote myself rented faster than the three I paid someone else to write.
Reply · 15 points
What does a first allocation to a scaled fund actually look like in year one, operationally
What state are they buying in, because New Jersey alone could eat a mid-six check in one October sale.
Reply · 8 points
The inspection period is doing more work than most virtual wholesalers treat it as
In Maricopa, 21 days raises eyebrows from sellers even on distressed probate deals where they should know better. I usually ask for 15 and back-load nothing, because my vendor rela…
Reply · 4 points
@the original poster what was the split structure you two actually agreed to at the start of this JV, written or verbal? Because if you shook hands on 50/50 regardless of which sid…
Reply · 25 points
Does the buyer's financing type change which contracts I should be putting properties under
The farm ground ROFR thing is not a dumb question at all, that is exactly how you lose a deal you already spent time and money putting together. I will say though, I write everythi…
Reply · 15 points
My boarding house manager just quit and I did not have a written policy for anything
The two residents with no emergency contacts would have kept me up at night before the manager even left. What do you actually have on them, ID copy, anything?
Reply · 17 points
What happens to the climate-control premium when a market tips from undersupplied to overbuilt?
Probate deals don't touch this asset class but I read this thread because a private lender of mine got into a storage fund in 2021 and called me eight months ago asking if I knew a…
Reply · 6 points
"Performing fine" is doing a lot of work in your post. Mixed-use renovation in Akron, five years in, and you give no occupancy, no cash-on-cash, no sense of what the underlying ret…
Reply · 8 points
The repair amounts are what actually decide the amendment question, not the fee. The 8 percent fee is fixed math, so the gross-up your CPA described is almost mechanical and probab…
Reply · 9 points
Maricopa probate, so different animal, but my private lenders want a number not a range.
Reply · 13 points
Has anyone here actually bought rural land in Spain and run the numbers on agricultural income?
What is your plan when the tenant farmer stops paying and you are in Ohio?
Reply · 17 points
Did losing negotiating leverage in a dual agency deal actually cost me the deal
New Mexico is a disclosed dual agency state but the agent's fiduciary duty basically collapses into a neutral facilitation role the second both parties sign that consent, and "neut…
Reply · 18 points
