I priced this out both ways this week and the gap is smaller than I expected. The platform route: a national data subscription with skip tracing bundled, call it $100 to $300 a mo…
The niece handling her aunt's house told me the insurance is still in place and I took that as settled. Then someone told me a homeowners policy stops covering a house once nobody…
Looking at this as a capital participant rather than the buyer, so my question is about how much of the file I need before I'd fund somebody else's side of it. Deal shape: single…
Few deals in. My route is basically maxed, I can't get more hours in the car without giving up the parts of the business that actually close things. Every answer I find online say…
Four months, and I'm writing this down while the receipts are still in front of me. Drove 612 addresses into the app between October and February. 380 came back with a mailing add…
I've been keeping a spreadsheet since October on every deal a wholesaler has sent me, and I finally have enough rows to say something. 178 deals emailed to me. I underwrote 41 of…
Deal I'm working: contract with the seller at $186,000, cash buyer verbally at $200,000. So $14,000 of spread. Seller is an heir who inherited the house from her mother. She think…
First house, so bear with me. The agent who's been driving me around also listed a place I like, and she gave me a form saying she'd represent both of us and I had to sign to keep…
Under contract on a triplex at $412k, all three units leased, gross $3,450 a month. Nothing exciting, which is what I wanted. The agent who showed it to me is also the listing age…
Closed last Friday on a dated 1990s lake property. Bought at 2.28M off a probate situation, put 520k into it, sold at 3.19M. Net after commissions, carry, and closing was a bit ov…
Not a deal, so tell me if this doesn't count. I finished the piece of work I'd been putting off for a year, which was building an actual list instead of reacting to whatever a bro…
Five years of service work means I'm in and out of small commercial buildings constantly and I hear things. Owner of a two building office and warehouse property told me last week…
I do renovations normally so I'm used to carrying builder's risk from the day I close. Someone in my local group said on a double close you don't need any insurance because you ow…
Under contract at 189k on a house with a kitchen fire in the back half, structure is fine, the smoke is not. Builder buyer at 231k, cash, wants it in ten days. I'm not touching th…
Small three tenant shell on an outparcel next to a grocery-anchored center, secondary market. Total project cost came in at $1.9M. I've wired a lot of these for other people and t…
Working through an industrial build to see whether it's even the same sport as the small multifamily I know. Land is $1.2M for about 4.5 acres. Hard cost pencils at $145/sf on 60,…
Buying in a rural county where the houses I want are $38k to $72k. Rents run $675 to $850 and they hold, tenancies here average longer than anything I've seen in a metro. The math…
I've been doing passive positions for a while and I do a lot of due diligence on sponsors, so I'm comfortable with the paperwork side. What I've never done is buy a property direc…
Trying to build a real predevelopment budget for a small commercial site and I keep guessing at the line items. I know I need a survey and a geotech report and civil drawings. I d…
I don't like development risk. I read this room for a year mostly to understand why I didn't want to be in it. Then a sponsor I'd been introduced to twice offered me something I c…