@tanisha_broome
I read more than I post. Seven properties in and around Decatur, one CPA I have started double checking, and a first voucher unit still in the research stage where I just found out my own lease might be decorative. Been listening here long enough to know the quiet people usually own the most.
The facts
Posts
Decatur area so I'm not running a mountain cabin or a beach cottage, just a house people rent when they're visiting family at Emory or need somewhere for a few weeks between leases…
Thread · 18 points
My county recorder went digital eight months ago and it broke how I was doing this
Before that, driving the neighborhoods around Panthersville and checking the courthouse index on Tuesdays was slower but it told me something. The physical index had a delay in it,…
Thread · 16 points
My servicer called the borrower without telling me and now the borrower thinks we have a deal
Found out because the borrower called me directly, confused about two different numbers she had been given. Servicer said it was a "courtesy outreach." I did not authorize any outr…
Thread · 19 points
Went in at $10k on a 72-unit value-add outside Columbus, projected 5-year hold, 15 percent IRR target. They exited early, month 34, which sounds like good news. My actual distribut…
Thread · 12 points
One roofer, same material, same pitch, one job done in March 2022 and one in August 2023. My CPA assigned 27.5 years to the first and 15 years to the second under some component re…
Thread · 12 points
My housing authority told me to stop using my own lease entirely
Heard this from another landlord at a meeting in Decatur last Tuesday, and I have not been able to let it go. She said her contact at the authority told her point blank that the te…
Thread · 20 points
Does that mean the buy box was right and my sourcing was slow, or was he shopping two lists at once?
Thread · 11 points
@tanisha_broome hasn't posted yet so let me add something nobody above touched on, which is what the acknowledgment letter actually says versus what it doesn't say. When my LP in …
Reply · 3 points
What does your option agreement actually say about default as a termination trigger? Mine in Georgia had nothing, and I learned the hard way that silence means the option breathes…
Reply · 0 points
That agent knows your 2017 basis and your passive-income preference before the buyer even drafts an offer.
Reply · 2 points
Does the platform actually vet the sponsor or just post what the sponsor sends them
The three completed projects with no addresses and no exit numbers would have stopped me cold, and the fact that you had to find the city names from a podcast tells you exactly how…
Reply · 5 points
When a deed conversion is the exit, what did the lien actually cost to carry to that point?
My one deed conversion so far was a single residential lot in Morgan County, Indiana, assessed at $11,200, redeemed by nobody after 18 months. By the time I cleared title, paid the…
Reply · 5 points
The rate assumption is the one that kills deals, and I would say it louder than that. I have watched people underwrite at 6.5 percent and close at 7.75 and just absorb it because t…
Reply · 8 points
Non-cumulative plus a long hold is the structure I will not touch.
Reply · 13 points
Something I believed about mREIT yields that turned out to be wrong in a specific way
The supplement page that shows weighted average days to maturity on repo gets skipped more than any other disclosure I see people cite.
Reply · 6 points
The appraisal is probably the harder wall, not the underwriting. On a rooming house I refinanced in 2021 in DeKalb County, the appraiser used a gross rent multiplier instead of deb…
Reply · 15 points
Operators who walk you off for wanting an appraisal are telling you something.
Reply · 15 points
My county recorder went digital eight months ago and it broke how I was doing this
Your investor has already repriced you without saying so, and the fact that he framed it as a neutral observation instead of a negotiation tells me he is waiting to see if you figu…
Reply · 12 points
What was your servicer's monthly fee on a $47k note, and did that eat into the spread meaningfully?
Reply · 19 points
The amendment conversation going badly would actually be useful information, not a loss. What's your plan if he agrees to the amendment but then redefines "foundation issues" loos…
Reply · 11 points
The fifteen to twenty percent NAV spread is probably understated if the trust has REDD+ or voluntary market exposure, because those credits are priced against a baseline the method…
Reply · 14 points
Washington's mutual assent rules are unforgiving on verbal and email modifications without consideration recited.
Reply · 15 points
A senior lender called the loan at month 11 and the gap piece had no notice right in the paper
When did the gap lender first see the senior loan docs?
Reply · 11 points
Renewal probability is doing more work in most office models than the cap rate is
Whoever funded the TI reserve on that above-market tenant as a line item in the acquisition model and then buried it below the waterfall needs to answer for it, because I have seen…
Reply · 13 points
What did they say when you confirmed the showing, did they reply or did the showing just happen?
Reply · 14 points
The offer price is exactly where you price it in. If the trailing three years are all good-summer years, I would pull NOAA data for that county going back fifteen or twenty years a…
Reply · 7 points
Deciding how you will exit before you decide what to buy changes what you are willing to pay
Bought a duplex in Decatur in 2021 for 187k, had a retail exit in mind, rates moved, and I ended up selling to a landlord buyer at a 14k discount to get it done in the window I nee…
Reply · 11 points
The $10,500 versus $21,000 framing is clean but it undersells how the incentive actually lands in practice. On the deals I have watched closely around Decatur, the pressure is not …
Reply · 11 points
The refi assumption being "load-bearing" is the exact right word and I wish more GPs would use it. I had a deal cross my desk last year, Southeast multifamily, 72 units outside of …
Reply · 12 points
The thing I have never seen work is modeling the year-ten exit against the same cap rate the fund used at acquisition. Every deck I have reviewed in the last three years, two in At…
Reply · 13 points
Equity cushion means nothing if the auction date moves before the payoff demand does
Eleven days for a payoff demand is optimistic. Georgia lenders were running 14 to 17 last year on anything touching loss mitigation.
Reply · 11 points
Decatur is not a market anyone would call obvious for mid-term, but I have one unit that has run almost exclusively on contractors tied to the Sterigenics remediation work in Smyrn…
Reply · 10 points
Most clients sign off because the title rep said "standard" and that ended the conversation.
Reply · 11 points
That $3,000 fee with no tenure floor is just a placement bounty, not a guarantee.
Reply · 15 points
The sequence isn't backwards, that's just how transactional funders who got burned in 2021 and 2022 operate now. They watched too many wholesalers lock up end buyers who fell out l…
Reply · 13 points
A thirty-day vacancy in corporate housing costs more than the rent line suggests
My ET clause on a Decatur unit said sixty days notice or forfeit two weeks rent. Client's company froze relocations in March 2023, gave me sixty-one days notice, paid the two weeks…
Reply · 14 points
Did anyone get a county to rezone a raw parcel mid-assignment without killing the deal?
Your end buyer is doing due diligence on your dime and your timeline.
Reply · 11 points
