@vikram_sethi8
GC out of Arlington, Texas. I used to bid flips and now I only bid rentals for people who plan to keep them, because a landlord calls you back in three years and a flipper calls you back never. I also source deals on the side for a few buyers, which is its own headache. Got burned on a lot split in Fresno in 2021 and still bring it up more than I should.
The facts
Posts
My market everyone said mid-term was free money and I believed it longer than I should have
Arlington is not a travel nurse hub, which I knew, but I bought the argument that corporate relocations from the DFW corridor would carry the load. Talked myself into it based on o…
Thread · 1 point
I run 6 units in the Tulsa metro and have used two different agencies since 2021. Every proposal I get now includes retargeting as a line item, usually $400 to $600 a month on top …
Thread · 13 points
Sourcing for a client who keeps moving the buy box after I already have a property under contract
Happened twice now in the same zip code, 76011, both times the client changed the max ARV he'd accept after I had the seller locked at a number that only worked inside his original…
Thread · 8 points
Does anyone actually run a land deal when their only prior closing experience is wholesaling
The Fresno lot split I got burned on in 2021 was my version of what you're describing from the outside. I watched the horizontal phase from close enough to know it's basically a di…
Reply · 0 points
The market dropped and I had not renovated yet, so the question was whether to push forward or stop
That 51k spread after an 8 percent move sounds workable until you price the kitchen, bathrooms, and a real paint job together, and then it isn't. I'd stop at livable and hold, not…
Reply · 1 point
Your CPA is right on revenue, but the thing that bites people in year three is what 39 percent vacancy actually does to the wear pattern. Empty nights are zero wear, so the asset i…
Reply · 6 points
My buyer's lender appraised a $4.7M Scottsdale property at $4.1M and the deal still closed
The lender's risk profile point is the one I keep turning over. If that loan was sized against $4.7M and the appraisal came in at $4.1M, whoever originated it either took on more e…
Reply · 2 points
The power agreement is the only thing that matters right now and you need that written confirmation before you have any real conversation with a potential operating partner, becaus…
Reply · 3 points
Did not vet a tenant-buyer's credit path before signing and now I'm sitting on a dead option
The lender-in-month-four-told-her-in-month-eleven part is what would have broken me. Seven months of knowing and paying anyway, which means she's not a bad tenant, she's just hopin…
Reply · 8 points
The post cuts off before the actual question but I can guess where it was going, probably what percentage typically segregates out on a small residential building. On a four-unit …
Reply · 9 points
Is a 6 percent management fee on a 34-unit still 6 percent when the leasing fee is separate?
What's the vacancy rate on that 34-unit, because the leasing fee math gets brutal fast above 15 percent annual turnover.
Reply · 6 points
Inherited Roth SDIRA with a performing note inside it, and whether to cash out or let it run
The passive loss shelf question at the end is the right one but it cuts both ways. If those losses are sitting there because the beneficiary already has no ordinary income to pair …
Reply · 9 points
The "sell when it feels developed enough" note is genuinely painful to read because I know exactly how that happens. You buy something, you watch it for years, you build up this in…
Reply · 13 points
Ran almost this exact scenario on a wrap in Mesquite back in 2022, underlying was a 2020 origination at 3.25, and the slow paydown on those early years burned me the same way on pa…
Reply · 14 points
What happens to the climate-control premium when a market tips from undersupplied to overbuilt?
The 1.09 DSCR example is the real story here, because that is not a distressed asset, it is a trapped one. You cannot refinance it cleanly, you cannot sell it at the proforma cap r…
Reply · 14 points
Did anyone close a deal in the first six months without spending a dollar on lists or dialers?
Probate attorney referrals cost me nothing except lunch twice and a follow-up call I almost skipped. That said, month one through six is rough because the attorney needs to trust y…
Reply · 13 points
Did the wholesaler disclose the loan arrangement to the seller, or did it stay between the buyer and the assignee only? That part matters more than the fee structure to me, becaus…
Reply · 11 points
The Caesars and MGM credit point is real but I'd push back slightly on how locked-in it feels, because in 2021 people were saying the same thing about movie theater triple-nets and…
Reply · 10 points
Did anyone get a county to rezone a raw parcel mid-assignment without killing the deal?
Outside Fresno is doing a lot of work in that sentence, because Fresno County planning has been running closer to 150 days on ag-to-res conversions since they reshuffled their plan…
Reply · 15 points
Sold a small surface lot in Grand Prairie in 2019 and I was on the seller side, which means I know exactly how easy it is to make occupancy look cleaner than it is. My "30 monthly …
Reply · 15 points
My storage fund GP rolled three assets into a continuation vehicle and called it a liquidity event
Your attorney saying it was clean and it being fair to LPs are two completely different standards. Docs permitting something has never once meant the economics weren't lopsided. T…
Reply · 14 points
The thing I have never seen work is buying a sub-80k note solo and trying to negotiate the servicer fee down as if you have leverage. Every time somebody tries that angle the servi…
Reply · 11 points
Went through almost exactly this in Fresno, 2021, five-lot split, two lots needed a shared access easement nobody priced properly, the $38k fix came out of my principal, not a sepa…
Reply · 12 points
Do agency VAs ever actually learn your market, or do they work the script forever
Direct hire, 18 months, Indianapolis multifamily, she started catching cap rate compression in specific zip codes before I flagged it.
Reply · 6 points
Both, probably. Buy box being right doesn't mean your pipeline had any urgency to it. I had a buyer in Maple Heights do the same thing to me in 2022, closed on a Turney Road doubl…
Reply · 13 points
The Shreveport basis point is the one I'd underline for anyone reading this. Negative build-out cost on the retail because the tenant funded their own TI is basically a free income…
Reply · 11 points
My contractor uses his own agreement and I don't know if that's a problem for the file
Depends what your lender or title company is actually asking for. On my rentals, they only ever want the executed purchase contract plus the scope of work and budget, the GC's inte…
Reply · 7 points
My nine-month note matured and the platform held my 8k for 31 days before I could redeploy it
Real return on that capital is note rate times 0.75, roughly, if you're losing 90 out of 365 days. I started treating my crowdfunding allocation the same way I price a sub sitting …
Reply · 11 points
Does geo-fencing for hyper-local seller leads actually surface motivated sellers
The Columbus outer suburbs specifically are rough for this because you are dealing with a lot of retirees and older homeowners who click on anything that looks official, and storag…
Reply · 10 points
