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This started as a normal seller call. Owner is 78, has held a 12 unit walkup since the eighties, nine occupied, three down and gutted to studs from a burst pipe two winters ago. H…
Third call this month where the owner clearly did not know their servicer had a loss mitigation department. One of them had roughly 11k of arrears against something like 140k of e…
Working out what the first deal costs, and I decided bird dogging was the free way in. It wasn't free and the reason it wasn't is my own doing, so here's the accounting. Over seve…
Pulled the numbers for my county before deciding where to point myself. Last year there were 212 closed sales above $2.5M. The five biggest teams touched 61% of them on one side o…
A friend of a friend lists high-end houses and mentioned in passing that she'd "put about thirty into" a listing before it sold. I assumed she meant thirty thousand dollars of her…
I've been handed the books on two small shops by a friend who's thinking about buying one, and the numbers argue with each other. Shop A: 22 agents, $310k of gross commission inco…
I work rural land, long holds, and I've been passing leads on parcels that don't fit my hold criteria. Small acreage, back taxes owed, heirs scattered across three states. Flat fe…
I do passive positions mostly and I underwrite carefully, so when I started funding a local operator's acquisitions I ended up paying for his lead flow too. Over 14 months that wa…
I have about 4,200 addresses logged across six zip codes, built up over roughly nine months of routes. Every address goes into the same five-touch mail sequence. What I'm looking…
Third Saturday out and my list is bloated. I photograph anything with peeling paint and a full mailbox, which means I came home with 41 addresses and maybe 9 of them are actually…
Two agents in the same market described the same rule to me in opposite terms this week. One called the written agreement before touring the best thing that happened to buyers, be…
Before the rule change, as I understand it, the offer of compensation to the buyer's broker sat in the MLS listing field and the split happened more or less automatically through…
I've now had coffee with four agents and every one of them said the word "investor-friendly" before I did. Two of them then sent me owner-occupant listings with a cap rate typed a…
The first draft the agent handed me was 12 months, the whole state, 3 percent. I read it twice, then read it a third time, and the part that bothered me wasn't the percent. It was…
Getting licensed and I want the cost side honest before I quit anything. What I have so far: pre-license course, about 500 exam fee, about 100 license application, about 200 backg…
Same plan set, same builder, same submarket, three houses in fourteen months. 1,850 square feet each. House one: 158 a foot hard cost. House two: 166. House three, quoted last wee…
A wholesaler I've dealt with twice by phone wants transactional funding for a back-to-back closing. Numbers as presented: A to B at $118,000, B to C at $139,000, same day, same ti…
Contract at $185,000. My ARV was $260,000 built off photos and a data platform estimate, repairs guessed at $45,000. I had a buyer at $200,000 verbally, so a $15,000 spread. Buyer…
I went out for two hours and wrote down 11 houses and honestly I'm not sure any of them count. One had knee-high grass. One had a rolled-up newspaper thing on the porch but the ca…
I've done this four Saturdays running and I want someone to tell me it's not a hobby. Setup. Rural county about 90 minutes out, land and the occasional beat up house on acreage. I…